Cookson Peirce & Co. Inc. increased its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354,797 shares of the company’s stock after buying an additional 9,172 shares during the quarter. Sysco comprises about 1.8% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 19th largest position. Cookson Peirce & Co. Inc. owned approximately 0.07% of Sysco worth $25,088,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC purchased a new stake in Sysco during the third quarter worth about $86,016,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Sysco by 27.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock worth $439,437,000 after acquiring an additional 1,111,654 shares during the period. Victory Capital Management Inc. raised its holdings in Sysco by 14.9% during the third quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock worth $521,123,000 after purchasing an additional 953,110 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Sysco by 10,810.9% during the second quarter. Los Angeles Capital Management LLC now owns 839,484 shares of the company’s stock worth $71,113,000 after purchasing an additional 831,790 shares in the last quarter. Finally, FMR LLC grew its holdings in Sysco by 5.1% in the second quarter. FMR LLC now owns 12,638,244 shares of the company’s stock valued at $1,070,587,000 after purchasing an additional 608,222 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.
Sysco Trading Down 0.0 %
SYY traded down $0.03 on Wednesday, reaching $77.43. 844,634 shares of the company’s stock were exchanged, compared to its average volume of 2,517,630. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The company’s 50 day moving average is $80.24 and its 200-day moving average is $81.18. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $39.24 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.09 and a beta of 1.11.
Sysco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 6th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 5th. Sysco’s dividend payout ratio (DPR) is currently 69.50%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on SYY shares. Wells Fargo & Company decreased their price objective on shares of Sysco from $95.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 4th. Barclays dropped their price objective on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday. Argus increased their target price on Sysco from $92.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 21st. Finally, BMO Capital Markets decreased their price objective on Sysco from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.64.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
- Old Dominion Freight Line Driving To New Highs
- AMD Results Are No Reason To Buy Semiconductors… Yet
- Institutions are Buying up Procter & Gamble Shares, Should you?
- How Do Lawsuits Affect Johnson & Johnson’s Stock Price?
- Has The Salesforce Turnaround Begun?
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY – Get Rating).
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.