Commerzbank Aktiengesellschaft FI Acquires New Holdings in Sysco Co. (NYSE:SYY)

Commerzbank Aktiengesellschaft FI acquired a new stake in Sysco Co. (NYSE:SYY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,026 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its stake in Sysco by 7.5% during the 3rd quarter. Global X Japan Co. Ltd. now owns 5,926 shares of the company’s stock valued at $463,000 after buying an additional 413 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Sysco by 0.5% during the third quarter. Private Advisor Group LLC now owns 38,082 shares of the company’s stock worth $2,973,000 after purchasing an additional 187 shares during the period. Waldron Private Wealth LLC boosted its holdings in shares of Sysco by 77.5% during the third quarter. Waldron Private Wealth LLC now owns 15,626 shares of the company’s stock worth $1,220,000 after purchasing an additional 6,823 shares during the period. Eastern Bank lifted its stake in Sysco by 4.0% in the third quarter. Eastern Bank now owns 219,181 shares of the company’s stock valued at $17,109,000 after acquiring an additional 8,347 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Sysco by 11.5% in the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the company’s stock valued at $1,582,000 after purchasing an additional 2,093 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on SYY shares. Barclays boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered 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. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Down 0.3 %

NYSE:SYY opened at $74.37 on Friday. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The business has a 50 day moving average price of $76.51 and a two-hundred day moving average price of $74.82. The company has a market cap of $36.53 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during 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%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is presently 52.44%.

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.