Invesco Ltd. Buys 851,441 Shares of Sysco Co. (NYSE:SYY)

Invesco Ltd. increased its stake in Sysco Co. (NYSE:SYY - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,907,541 shares of the company's stock after purchasing an additional 851,441 shares during the period. Invesco Ltd. owned approximately 3.46% of Sysco worth $1,292,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. bought a new position in Sysco during the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco during the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. raised its stake in shares of 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 in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 1.0 %

Shares of SYY traded up $0.71 during trading hours on Friday, reaching $70.39. 2,453,247 shares of the company traded hands, compared to its average volume of 3,326,053. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company's fifty day moving average price is $72.61 and its two-hundred day moving average price is $74.76. The company has a market capitalization of $34.44 billion, a price-to-earnings ratio of 18.09, 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 posted 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 quarter in the prior year, the business posted $0.89 EPS. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. Sysco's payout ratio is 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Melius Research upgraded Sysco to a "hold" rating in a report on Wednesday, December 18th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Guggenheim restated a "buy" rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $84.77.

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.