KCM Investment Advisors LLC Has $779,000 Stock Holdings in Sysco Co. (NYSE:SYY)

KCM Investment Advisors LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,911 shares of the company’s stock after purchasing an additional 161 shares during the period. KCM Investment Advisors LLC’s holdings in Sysco were worth $779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arjuna Capital acquired a new position in shares of Sysco during the second quarter worth about $1,337,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sysco by 49.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 94,338 shares of the company’s stock worth $6,735,000 after purchasing an additional 31,293 shares in the last quarter. Modera Wealth Management LLC lifted its position in shares of Sysco by 17.5% in the second quarter. Modera Wealth Management LLC now owns 87,337 shares of the company’s stock worth $6,235,000 after purchasing an additional 12,993 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Sysco by 2.3% in the 2nd quarter. Principal Financial Group Inc. now owns 585,622 shares of the company’s stock valued at $41,808,000 after acquiring an additional 13,215 shares in the last quarter. Finally, Crewe Advisors LLC raised its holdings in Sysco by 25.5% during the second quarter. Crewe Advisors LLC now owns 1,612 shares of the company’s stock worth $115,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYY. Bank of America decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets dropped their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Stock Performance

Shares of NYSE:SYY opened at $77.97 on Friday. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The stock has a market capitalization of $38.83 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company’s 50 day simple moving average is $73.97 and its 200 day simple moving average is $75.88.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter last year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.62%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

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.