Wealth Management Partners LLC Sells 196 Shares of Sysco Co. (NYSE:SYY)

Wealth Management Partners LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,025 shares of the company’s stock after selling 196 shares during the quarter. Wealth Management Partners LLC’s holdings in Sysco were worth $602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Gilman Hill Asset Management LLC boosted its holdings in shares of Sysco by 20.6% in the 1st quarter. Gilman Hill Asset Management LLC now owns 64,759 shares of the company’s stock worth $4,860,000 after purchasing an additional 11,062 shares in the last quarter. Sendero Wealth Management LLC lifted its stake in shares of Sysco by 150.3% in the 1st quarter. Sendero Wealth Management LLC now owns 8,761 shares of the company’s stock valued at $657,000 after acquiring an additional 5,261 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Sysco by 1.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 66,461 shares of the company’s stock valued at $4,987,000 after acquiring an additional 1,067 shares during the last quarter. First Financial Corp IN raised its position in Sysco by 13.2% during the 1st quarter. First Financial Corp IN now owns 9,299 shares of the company’s stock valued at $698,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Romano Brothers AND Company raised its position in Sysco by 2.4% during the 1st quarter. Romano Brothers AND Company now owns 8,097 shares of the company’s stock valued at $608,000 after purchasing an additional 189 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $72.93 on Thursday. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. 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 12-month low of $67.12 and a 12-month high of $82.23. The firm’s fifty day moving average price is $71.71 and its 200 day moving average price is $73.72.

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

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued 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 2.96%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s payout ratio is currently 55.96%.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were 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 represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYY shares. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price for the company. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, 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 note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.