Applied Finance Capital Management LLC Invests $656,000 in Sysco Co. (NYSE:SYY)

Applied Finance Capital Management LLC acquired a new stake in Sysco Co. (NYSE:SYY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,583 shares of the company's stock, valued at approximately $656,000.

Other large investors have also bought and sold shares of the company. Boston Partners raised its position in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after acquiring an additional 7,184,754 shares during the last quarter. Norges Bank bought a new position in Sysco during the 4th quarter worth approximately $450,441,000. Mondrian Investment Partners LTD bought a new position in Sysco during the 4th quarter worth approximately $123,928,000. Raymond James Financial Inc. acquired a new position in shares of Sysco in the 4th quarter worth approximately $97,078,000. Finally, Nordea Investment Management AB boosted its stake in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock valued at $208,666,000 after purchasing an additional 933,327 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 1.7 %

Shares of SYY stock traded up $1.20 on Monday, hitting $71.63. The stock had a trading volume of 495,744 shares, compared to its average volume of 3,682,305. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business has a 50 day moving average of $72.61 and a 200 day moving average of $74.74. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

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Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm posted $0.89 EPS. As a group, analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, April 4th. Sysco's dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analyst Weigh In

A number of analysts have commented on SYY shares. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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.