Sysco Co. (NYSE:SYY) Stake Boosted by Everhart Financial Group Inc.

Everhart Financial Group Inc. grew its stake in shares of Sysco Co. (NYSE:SYY) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,871 shares of the company’s stock after acquiring an additional 632 shares during the period. Everhart Financial Group Inc.’s holdings in Sysco were worth $441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Verity & Verity LLC grew its holdings in shares of Sysco by 6.1% during the 1st quarter. Verity & Verity LLC now owns 7,029 shares of the company’s stock valued at $527,000 after acquiring an additional 402 shares in the last quarter. apricus wealth LLC purchased a new position in shares of Sysco during the 1st quarter valued at $218,000. Focus Financial Network Inc. grew its holdings in shares of Sysco by 5.9% during the 1st quarter. Focus Financial Network Inc. now owns 3,994 shares of the company’s stock valued at $300,000 after acquiring an additional 221 shares in the last quarter. USA Financial Formulas grew its holdings in shares of Sysco by 30.3% during the 1st quarter. USA Financial Formulas now owns 2,401 shares of the company’s stock valued at $180,000 after acquiring an additional 558 shares in the last quarter. Finally, Curbstone Financial Management Corp grew its holdings in shares of Sysco by 1.0% during the 1st quarter. Curbstone Financial Management Corp now owns 30,194 shares of the company’s stock valued at $2,266,000 after acquiring an additional 292 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Stock Down 1.5%

SYY stock opened at $74.24 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a 50-day moving average of $71.98 and a two-hundred day moving average of $73.69. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81.

Sysco (NYSE:SYY) last released its quarterly 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 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is currently 55.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Barclays decreased their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

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.