apricus wealth LLC Takes Position in Sysco Co. (NYSE:SYY)

apricus wealth LLC acquired a new stake in Sysco Co. (NYSE:SYY) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,903 shares of the company’s stock, valued at approximately $218,000.

Other large investors have also made changes to their positions in the company. Focus Financial Network Inc. grew its holdings in shares of Sysco by 5.9% in the 1st quarter. Focus Financial Network Inc. now owns 3,994 shares of the company’s stock worth $300,000 after purchasing an additional 221 shares during the last quarter. USA Financial Formulas grew its holdings in shares of Sysco by 30.3% in the 1st quarter. USA Financial Formulas now owns 2,401 shares of the company’s stock worth $180,000 after purchasing an additional 558 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Sysco by 1.0% in the 1st quarter. Curbstone Financial Management Corp now owns 30,194 shares of the company’s stock worth $2,266,000 after purchasing an additional 292 shares during the last quarter. CX Institutional grew its holdings in shares of Sysco by 82.1% in the 1st quarter. CX Institutional now owns 27,101 shares of the company’s stock worth $2,034,000 after purchasing an additional 12,217 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in shares of Sysco by 10.1% in the 1st quarter. MV Capital Management Inc. now owns 37,786 shares of the company’s stock worth $2,835,000 after purchasing an additional 3,456 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Barclays lowered their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. 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. Citigroup initiated coverage on shares of Sysco in a report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Stock Down 1.1%

Shares of NYSE SYY opened at $74.68 on Thursday. The firm has a market capitalization of $36.20 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The firm’s 50-day moving average is $71.73 and its 200-day moving average is $73.71.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. Equities analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

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.