Distillate Capital Partners LLC Buys Shares of 240,064 Sysco Co. (NYSE:SYY)

Distillate Capital Partners LLC bought a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 240,064 shares of the company's stock, valued at approximately $18,355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortem Financial Group LLC grew its holdings in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after purchasing an additional 136 shares during the period. MV Capital Management Inc. lifted its position in shares of Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after buying an additional 144 shares in the last quarter. Morton Community Bank grew its stake in 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 acquiring an additional 145 shares during the period. Nemes Rush Group LLC increased its holdings in Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after acquiring an additional 147 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Trading Down 0.8 %

SYY stock traded down $0.57 during trading on Tuesday, reaching $71.27. 2,322,655 shares of the stock were exchanged, compared to its average volume of 3,328,675. The business has a 50 day moving average price of $72.62 and a 200-day moving average price of $74.67. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $34.87 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.88 and a beta of 0.91.

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Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 previous year, the firm earned $0.89 EPS. On average, research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.86%. Sysco's dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYY. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Guggenheim reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average 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.