Saratoga Research & Investment Management Has $535,000 Position in Sysco Co. (NYSE:SYY)

Saratoga Research & Investment Management reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 54.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,492 shares of the company’s stock after selling 8,891 shares during the period. Saratoga Research & Investment Management’s holdings in Sysco were worth $535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its stake in shares of Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after acquiring an additional 124 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in Sysco by 8.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after purchasing an additional 131 shares during the period. Beacon Investment Advisors LLC grew its holdings in Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the period. Plimoth Trust Co. LLC raised its position in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after purchasing an additional 139 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of Sysco by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $77.66 on Monday. The firm has a market cap of $38.67 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. 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 stock’s fifty day moving average price is $76.21 and its two-hundred day moving average price is $75.41.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is presently 49.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SYY shares. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

About Sysco

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.