Fmr LLC Purchases 60,059 Shares of Sysco Co. (NYSE:SYY)

FMR LLC lifted its holdings in Sysco Co. (NYSE:SYY - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,590,141 shares of the company's stock after purchasing an additional 60,059 shares during the quarter. FMR LLC owned 1.55% of Sysco worth $580,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in Sysco during the fourth quarter worth $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% in the fourth 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. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after acquiring an additional 321 shares during the period. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SYY shares. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. 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. Finally, Guggenheim reiterated a "buy" rating and set a $85.00 price objective on shares of Sysco in a research 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $84.77.

Remove Ads

Sysco Trading Up 2.0 %

Shares of Sysco stock traded up $1.43 on Monday, hitting $71.86. The stock had a trading volume of 338,790 shares, compared to its average volume of 3,319,535. The stock has a 50 day moving average of $72.61 and a 200 day moving average of $74.74. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The firm has a market capitalization of $35.16 billion, a P/E ratio of 18.47, a PEG ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last released 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. 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.