Board of the Pension Protection Fund Has $1.05 Million Stock Position in Sysco Corporation (NYSE:SYY)

Board of the Pension Protection Fund boosted its stake in Sysco Corporation (NYSE:SYY) by 66.7% in the first quarter, HoldingsChannel reports. The firm owned 14,000 shares of the company’s stock after acquiring an additional 5,600 shares during the period. Sysco accounts for about 1.2% of Board of the Pension Protection Fund’s holdings, making the stock its 12th biggest position. Board of the Pension Protection Fund’s holdings in Sysco were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC raised its position in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock valued at $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in Sysco during the fourth quarter valued at approximately $29,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco in the fourth quarter worth $31,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $74.59 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business’s 50 day moving average price is $72.73 and its two-hundred day moving average price is $73.43. The company has a market cap of $36.16 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.43 and a beta of 0.81. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Sysco Corporation 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. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s payout ratio is currently 52.85%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SYY shares. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Citigroup began 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. UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Four equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the company’s 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 transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

About Sysco

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.