Sysco Co. (NYSE:SYY) Shares Bought by Burney Co.

Burney Co. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,730 shares of the company’s stock after purchasing an additional 808 shares during the period. Burney Co.’s holdings in Sysco were worth $1,694,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SYY. Headlands Technologies LLC acquired a new position in shares of Sysco in the fourth quarter worth about $34,000. Russell Investments Group Ltd. raised its stake in Sysco by 39.9% during the 4th quarter. Russell Investments Group Ltd. now owns 300,746 shares of the company’s stock valued at $21,993,000 after purchasing an additional 85,798 shares during the period. Transcend Capital Advisors LLC acquired a new stake in Sysco during the 4th quarter valued at $212,000. Mather Group LLC. lifted its holdings in shares of Sysco by 7.7% in the fourth quarter. Mather Group LLC. now owns 6,610 shares of the company’s stock valued at $483,000 after purchasing an additional 470 shares in the last quarter. Finally, Choreo LLC boosted its position in shares of Sysco by 83.0% in the fourth quarter. Choreo LLC now owns 9,447 shares of the company’s stock worth $691,000 after buying an additional 4,285 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYY has been the subject of several research analyst reports. BMO Capital Markets reduced their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley lowered their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Price Performance

NYSE SYY opened at $78.14 on Friday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The stock’s 50-day moving average is $73.88 and its two-hundred day moving average is $75.87. The firm has a market cap of $38.91 billion, a P/E ratio of 18.91, 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.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio 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.