Lombard Odier Asset Management Europe Ltd Grows Stock Position in Sysco Co. (NYSE:SYY)

Lombard Odier Asset Management Europe Ltd increased its stake in shares of Sysco Co. (NYSE:SYY) by 134.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 43,757 shares of the company’s stock after purchasing an additional 25,090 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Sysco were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares during the period. Bridgefront Capital LLC purchased a new position in Sysco during the fourth quarter worth about $841,000. Nebula Research & Development LLC acquired a new stake in Sysco in the fourth quarter valued at about $916,000. Artisan Partners Limited Partnership boosted its holdings in Sysco by 11.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its position in Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYY. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.55.

Sysco Stock Performance

Sysco stock opened at $76.17 on Tuesday. The stock has a fifty day moving average price of $75.96 and a 200 day moving average price of $75.50. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The firm has a market capitalization of $37.93 billion, a P/E ratio of 18.58, a PEG ratio of 2.01 and a beta of 1.20.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.68%. Sysco’s payout ratio is 49.76%.

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.