Applied Capital LLC FL Buys Shares of 2,748 Sysco Co. (NYSE:SYY)

Applied Capital LLC FL purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,748 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC lifted its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB purchased a new position in shares of Sysco during the 1st quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYY shares. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. 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. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Up 0.5 %

Shares of NYSE:SYY opened at $75.60 on Wednesday. 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 business has a 50 day simple moving average of $76.55 and a two-hundred day simple moving average of $74.95. Sysco Co. has a 1 year low of $63.18 and a 1 year high of $82.89. The firm has a market capitalization of $37.65 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 EPS. On average, equities analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.