Foundations Investment Advisors LLC Acquires 2,621 Shares of Sysco Co. (NYSE:SYY)

Foundations Investment Advisors LLC increased its stake in Sysco Co. (NYSE:SYY) by 39.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,267 shares of the company’s stock after purchasing an additional 2,621 shares during the period. Foundations Investment Advisors LLC’s holdings in Sysco were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Capital Research Global Investors increased its holdings in shares of 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 buying an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC raised its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new stake in Sysco during the first quarter worth about $178,824,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of 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 in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.3 %

SYY opened at $74.37 on Friday. Sysco Co. has a one year low of $64.28 and a one year high of $82.89. 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 has a 50 day simple moving average of $76.51 and a two-hundred day simple moving average of $74.82. The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during 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 for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. Analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYY shares. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Barclays upped 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 Wednesday, July 31st. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

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.