Sysco Co. (NYSE:SYY) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. boosted its stake in shares of Sysco Co. (NYSE:SYY) by 223.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 58,510 shares of the company’s stock after purchasing an additional 40,400 shares during the quarter. APG Asset Management N.V.’s holdings in Sysco were worth $3,897,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. ORG Partners LLC grew its holdings in Sysco by 3,159.0% during the second 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 stake in Sysco in the 4th quarter worth approximately $841,000. Nebula Research & Development LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $916,000. Mizuho Markets Americas LLC increased its holdings in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after purchasing an additional 18,296 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Truist Financial dropped their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Down 0.4 %

Shares of SYY stock opened at $77.66 on Monday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock’s fifty day moving average is $76.21 and its two-hundred day moving average is $75.41. The firm has a market capitalization of $38.67 billion, a P/E ratio of 18.94, a PEG ratio of 1.99 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results 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 firm 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 firm posted $1.34 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.63%. Sysco’s dividend payout ratio is presently 49.76%.

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.