Sysco Co. (NYSE:SYY) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its position in Sysco Co. (NYSE:SYY) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,390 shares of the company’s stock after buying an additional 980 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Sysco were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings 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 worth $536,000 after acquiring an additional 124 shares during the period. Virtu Financial LLC raised its position in Sysco by 60.0% in the fourth quarter. Virtu Financial LLC now owns 7,427 shares of the company’s stock valued at $543,000 after purchasing an additional 2,786 shares during the period. Syon Capital LLC raised its position in Sysco by 24.2% in the fourth quarter. Syon Capital LLC now owns 7,505 shares of the company’s stock valued at $549,000 after purchasing an additional 1,464 shares during the period. Fisher Asset Management LLC raised its position in Sysco by 52.5% in the fourth quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock valued at $591,000 after purchasing an additional 2,784 shares during the period. Finally, Willner & Heller LLC purchased a new position in Sysco in the fourth quarter valued at about $216,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYY shares. Bank of America dropped their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their target price 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. Finally, Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two 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 stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Trading Up 0.8 %

Shares of NYSE:SYY opened at $74.42 on Monday. Sysco Co. has a 12 month low of $62.45 and a 12 month high of $82.89. 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’s fifty day simple moving average is $76.53 and its 200 day simple moving average is $75.03. The firm has a market cap of $36.56 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.92 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating 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 company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter last year, the firm posted $1.34 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

Sysco Company 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.