AQR Capital Management LLC Has $15.40 Million Position in Sysco Co. (NYSE:SYY)

AQR Capital Management LLC raised its holdings in Sysco Co. (NYSE:SYY) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 201,391 shares of the company’s stock after acquiring an additional 6,981 shares during the quarter. AQR Capital Management LLC’s holdings in Sysco were worth $15,398,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYY. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the fourth quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco in the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. boosted its holdings in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its position in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $70.66 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a fifty day simple moving average of $72.52 and a two-hundred day simple moving average of $74.24. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market capitalization of $34.25 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80.

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

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYY shares. BMO Capital Markets dropped their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $83.38.

Sysco Company 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.