Fairview Capital Investment Management LLC Raises Position in SYSCO Co. (NYSE:SYY)

Fairview Capital Investment Management LLC boosted its stake in shares of SYSCO Co. (NYSE:SYY) by 2.4% during the first quarter, HoldingsChannel reports. The firm owned 798,233 shares of the company’s stock after purchasing an additional 19,004 shares during the quarter. SYSCO makes up about 2.9% of Fairview Capital Investment Management LLC’s investment portfolio, making the stock its 10th biggest position. Fairview Capital Investment Management LLC’s holdings in SYSCO were worth $53,290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SYY. Norges Bank bought a new stake in SYSCO during the fourth quarter valued at about $299,789,000. Vanguard Group Inc boosted its position in SYSCO by 3.9% during the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares in the last quarter. BlackRock Inc. boosted its position in SYSCO by 4.7% during the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after purchasing an additional 1,502,847 shares in the last quarter. Geode Capital Management LLC boosted its position in SYSCO by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock valued at $396,070,000 after purchasing an additional 1,076,459 shares in the last quarter. Finally, FMR LLC boosted its position in SYSCO by 25.8% during the fourth quarter. FMR LLC now owns 4,443,512 shares of the company’s stock valued at $278,431,000 after purchasing an additional 911,812 shares in the last quarter. 77.65% of the stock is currently owned by institutional investors.

NYSE SYY traded down $0.27 during trading on Friday, hitting $72.25. The company’s stock had a trading volume of 1,614,751 shares, compared to its average volume of 2,442,185. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. The company has a market cap of $37.13 billion, a PE ratio of 23.01, a P/E/G ratio of 2.08 and a beta of 0.55. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to the consensus estimate of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. On average, sell-side analysts predict that SYSCO Co. will post 3.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, July 3rd. SYSCO’s dividend payout ratio is presently 49.68%.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, June 11th. JPMorgan Chase & Co. dropped their price objective on SYSCO from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Loop Capital raised their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Finally, Pivotal Research reaffirmed a “sell” rating and set a $58.00 price objective (up previously from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. SYSCO currently has an average rating of “Hold” and an average price target of $74.21.

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SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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