Czech National Bank Acquires 5,281 Shares of Sysco Co. (NYSE:SYY)

Czech National Bank raised its holdings in shares of Sysco Co. (NYSE:SYY) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,176 shares of the company’s stock after purchasing an additional 5,281 shares during the period. Czech National Bank’s holdings in Sysco were worth $7,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors raised its position in Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. raised its position in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Capital Research Global Investors raised its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $73.80 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $36.25 billion, a P/E ratio of 18.00, a PEG ratio of 1.96 and a beta of 1.20. The stock’s 50 day moving average is $76.61 and its 200 day moving average is $75.17. Sysco Co. has a twelve month low of $62.45 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 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 business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period last year, the business posted $1.34 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Sysco Co. will post 4.6 earnings per share 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 paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.76%. Sysco’s dividend payout ratio is 49.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial reduced their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Morgan Stanley reduced their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.