Lido Advisors LLC Purchases 6,726 Shares of Sysco Corporation $SYY

Lido Advisors LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 46.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,108 shares of the company’s stock after purchasing an additional 6,726 shares during the quarter. Lido Advisors LLC’s holdings in Sysco were worth $1,506,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Montag A & Associates Inc. lifted its stake in shares of Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares in the last quarter. United Community Bank grew its stake in Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after buying an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Sysco by 1.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after buying an additional 138 shares in the last quarter. Octavia Wealth Advisors LLC raised its holdings in Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after acquiring an additional 141 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SYY. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating on shares of Sysco in a report on Wednesday, July 22nd. Finally, Guggenheim decreased their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Sysco Stock Up 1.2%

SYY opened at $84.12 on Tuesday. The company has a fifty day moving average price of $79.73 and a 200-day moving average price of $79.86. The firm has a market capitalization of $40.27 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 3.27 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Equities research analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.