IFM Investors Pty Ltd Buys 2,669 Shares of Sysco Co. (NYSE:SYY)

IFM Investors Pty Ltd lifted its stake in Sysco Co. (NYSE:SYYGet Rating) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,577 shares of the company’s stock after buying an additional 2,669 shares during the quarter. IFM Investors Pty Ltd’s holdings in Sysco were worth $7,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SYY. Hilltop Holdings Inc. raised its stake in Sysco by 10.1% during the 4th quarter. Hilltop Holdings Inc. now owns 5,439 shares of the company’s stock valued at $427,000 after purchasing an additional 500 shares during the period. Rockefeller Capital Management L.P. raised its stake in Sysco by 10.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,631 shares of the company’s stock valued at $1,854,000 after purchasing an additional 2,167 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Sysco by 3.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 56,605 shares of the company’s stock valued at $4,446,000 after purchasing an additional 1,708 shares during the period. Blair William & Co. IL raised its stake in Sysco by 11.4% during the 4th quarter. Blair William & Co. IL now owns 376,765 shares of the company’s stock valued at $29,595,000 after purchasing an additional 38,474 shares during the period. Finally, Clearstead Advisors LLC raised its stake in Sysco by 2.1% during the 4th quarter. Clearstead Advisors LLC now owns 26,707 shares of the company’s stock valued at $2,098,000 after purchasing an additional 560 shares during the period. Institutional investors own 82.43% of the company’s stock.

Sysco Price Performance

SYY opened at $77.38 on Friday. The business has a fifty day moving average of $83.98 and a 200 day moving average of $83.51. Sysco Co. has a 52-week low of $68.05 and a 52-week high of $91.53. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 7.28. The stock has a market cap of $39.16 billion, a P/E ratio of 29.31, a PEG ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The company had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $18.29 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Sysco’s revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Co. will post 4.2 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is presently 74.24%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Credit Suisse Group cut their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Truist Financial cut their price target on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Barclays cut their price target on Sysco to $100.00 in a report on Monday, August 15th. Finally, Stephens began coverage on Sysco in a report on Thursday. They set an “overweight” rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.67.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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