AMF Tjanstepension AB Acquires 20,356 Shares of Sysco Co. (NYSE:SYY)

AMF Tjanstepension AB lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 185.5% during the third quarter, HoldingsChannel reports. The firm owned 31,332 shares of the company’s stock after purchasing an additional 20,356 shares during the quarter. AMF Tjanstepension AB’s holdings in Sysco were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Trust Co of the South raised its stake in Sysco by 85.1% in the 3rd quarter. Trust Co of the South now owns 5,607 shares of the company’s stock valued at $438,000 after acquiring an additional 2,578 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Sysco by 44.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 44,122 shares of the company’s stock valued at $3,444,000 after acquiring an additional 13,639 shares during the period. Jacobs & Co. CA raised its stake in Sysco by 3.3% in the 3rd quarter. Jacobs & Co. CA now owns 130,836 shares of the company’s stock valued at $10,213,000 after acquiring an additional 4,199 shares during the period. Mattson Financial Services LLC bought a new stake in Sysco in the 2nd quarter valued at about $1,109,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its stake in Sysco by 1.1% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock valued at $1,217,000 after acquiring an additional 178 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Truist Financial decreased their price target 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 company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Down 1.6 %

Shares of NYSE SYY opened at $76.12 on Friday. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.02 and a beta of 1.20. The business has a 50-day moving average of $76.60 and a 200-day moving average of $75.39. 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 12 month low of $62.24 and a 12 month high of $82.89.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 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.