Claro Advisors LLC Buys New Shares in Sysco Co. (NYSE:SYY)

Claro Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,536 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its stake in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after acquiring an additional 124 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC lifted its stake in Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after acquiring an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets cut their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.90.

Sysco Price Performance

SYY stock opened at $70.59 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The firm has a market cap of $35.15 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.05 and a beta of 1.18. The company’s 50-day moving average price is $73.79 and its two-hundred day moving average price is $76.38.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. Sysco’s payout ratio is 48.78%.

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.