Petredis Investment Advisors LLC Boosts Stock Position in Sysco Co. (NYSE:SYY)

Petredis Investment Advisors LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,384 shares of the company’s stock after purchasing an additional 286 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Sysco were worth $2,130,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYY. Rialto Wealth Management LLC raised its holdings in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Sysco during the 4th quarter valued at $29,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco in the 4th quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in Sysco during the fourth quarter valued at about $31,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. UBS Group cut their price target on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Sysco stock opened at $75.25 on Tuesday. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market cap of $36.48 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The firm’s fifty day moving average price is $71.66 and its 200-day moving average price is $73.69.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the business posted $0.96 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 2.87%. This is a boost from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is presently 55.96%.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.