Strategy Asset Managers LLC Buys 18,440 Shares of Sysco Co. (NYSE:SYY)

Strategy Asset Managers LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 45.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,619 shares of the company’s stock after acquiring an additional 18,440 shares during the quarter. Strategy Asset Managers LLC’s holdings in Sysco were worth $4,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Chicago Partners Investment Group LLC boosted its position in shares of Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares during the period. Bell Investment Advisors Inc boosted its holdings in Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after buying an additional 131 shares during the period. Beacon Investment Advisors LLC increased its stake in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after buying an additional 133 shares in the last quarter. Plimoth Trust Co. LLC raised its holdings in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares during the period. Finally, JFS Wealth Advisors LLC lifted its position in shares of Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $85.27.

Sysco Trading Up 0.3 %

Shares of NYSE:SYY traded up $0.21 on Wednesday, hitting $78.48. 354,687 shares of the company’s stock were exchanged, compared to its average volume of 3,040,413. The business’s 50 day simple moving average is $74.21 and its two-hundred day simple moving average is $75.80. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a market capitalization of $38.57 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. Analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Sysco 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.