Allianz SE Buys Shares of 19,656 Sysco Co. (NYSE:SYY)

Allianz SE purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,656 shares of the company's stock, valued at approximately $1,501,000.

Several other institutional investors have also recently added to or reduced their stakes in SYY. Fortem Financial Group LLC raised its stake in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after buying an additional 136 shares in the last quarter. Morton Community Bank boosted its holdings in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after buying an additional 145 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the last quarter. FineMark National Bank & Trust grew its holdings in shares of Sysco by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock valued at $656,000 after purchasing an additional 149 shares during the last quarter. Finally, S.A. Mason LLC lifted its holdings in shares of Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company's stock worth $118,000 after purchasing an additional 150 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.77.

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Sysco Price Performance

SYY traded up $0.16 during midday trading on Thursday, reaching $75.46. 1,617,934 shares of the company's stock were exchanged, compared to its average volume of 3,612,820. Sysco Co. has a one year low of $69.03 and a one year high of $82.23. The firm has a market capitalization of $36.92 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The business has a 50-day simple moving average of $73.11 and a two-hundred day simple moving average of $75.10. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm earned $0.89 EPS. As a group, research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, April 4th. Sysco's payout ratio is 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.