IFM Investors Pty Ltd Grows Position in Sysco Co. (NYSE:SYY)

IFM Investors Pty Ltd raised its holdings in Sysco Co. (NYSE:SYY) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,361 shares of the company’s stock after purchasing an additional 658 shares during the period. IFM Investors Pty Ltd’s holdings in Sysco were worth $7,678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SYY. ORG Partners LLC lifted its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the period. Wedge Capital Management L L P NC grew its holdings in Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after buying an additional 18,296 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Sysco during the first quarter valued at about $1,677,000. Finally, Shell Asset Management Co. lifted its holdings in shares of Sysco by 205.0% in the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after buying an additional 9,615 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Bank of America dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

NYSE:SYY opened at $73.90 on Friday. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. 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 moving average of $76.48 and a 200 day moving average of $74.82. The company has a market capitalization of $36.30 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.95 and a beta of 1.20.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco’s dividend payout ratio is currently 52.44%.

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.