Sysco Co. (NYSE:SYY) Shares Bought by Cambiar Investors LLC

Cambiar Investors LLC increased its holdings in Sysco Co. (NYSE:SYY - Free Report) by 40.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 615,702 shares of the company's stock after purchasing an additional 177,425 shares during the quarter. Sysco accounts for about 1.8% of Cambiar Investors LLC's holdings, making the stock its 23rd largest holding. Cambiar Investors LLC owned 0.13% of Sysco worth $48,062,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the 2nd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Sysco in the second quarter valued at about $38,000. Canoe Financial LP purchased a new stake in shares of Sysco during the third quarter worth about $38,000. Finally, LRI Investments LLC acquired a new position in shares of Sysco during the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $85.77.

Sysco Trading Up 0.1 %

Shares of Sysco stock traded up $0.08 during mid-day trading on Friday, hitting $75.03. The stock had a trading volume of 2,640,670 shares, compared to its average volume of 3,172,096. The firm has a market cap of $36.86 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a 50-day moving average of $76.19 and a two-hundred day moving average of $74.73. Sysco Co. has a 12-month low of $65.19 and a 12-month high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. Sysco's payout ratio is currently 52.44%.

Sysco Company 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.