Dynamic Advisor Solutions LLC Makes New $202,000 Investment in Sysco Corporation (NYSE:SYY)

Dynamic Advisor Solutions LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,693 shares of the company’s stock, valued at approximately $202,000.

Several other large investors also recently bought and sold shares of the stock. Dover Advisors LLC purchased a new stake in Sysco during the 1st quarter worth about $321,000. Hennessy Advisors Inc. purchased a new stake in Sysco during the 1st quarter worth about $2,761,000. Wealth Enhancement Advisory Services LLC increased its holdings in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock worth $16,772,000 after purchasing an additional 4,932 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in Sysco during the 1st quarter worth about $3,826,000. Finally, New England Research & Management Inc. increased its holdings in shares of Sysco by 24.5% in the 1st quarter. New England Research & Management Inc. now owns 41,493 shares of the company’s stock valued at $3,114,000 after acquiring an additional 8,159 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 1.0%

Shares of NYSE SYY opened at $74.71 on Friday. The stock has a market cap of $36.21 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.23. The business has a 50-day moving average price of $72.41 and a 200 day moving average price of $73.59.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed 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. This represents a $2.16 dividend on an annualized basis and a yield of 2.89%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Barclays dropped their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of the 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 completion of the sale, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Sysco Company 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.