Ballentine Partners LLC Buys 1,083 Shares of Sysco Co. (NYSE:SYY)

Ballentine Partners LLC boosted its stake in Sysco Co. (NYSE:SYY) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,047 shares of the company’s stock after purchasing an additional 1,083 shares during the quarter. Ballentine Partners LLC’s holdings in Sysco were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares during the period. Ameriprise Financial Inc. boosted its stake in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the period. Capital Research Global Investors boosted its stake in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group raised 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. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Shares of Sysco stock opened at $73.92 on Friday. 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 business’s 50 day simple moving average is $76.42 and its two-hundred day simple moving average is $74.80. The stock has a market capitalization of $36.31 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.