Vanguard Personalized Indexing Management LLC Boosts Stake in Sysco Co. (NYSE:SYY)

Vanguard Personalized Indexing Management LLC increased its position in Sysco Co. (NYSE:SYY) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,987 shares of the company’s stock after purchasing an additional 1,682 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Sysco were worth $3,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors bought a new position in Sysco in the fourth quarter worth $683,599,000. Capital Research Global Investors increased its stake 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 acquiring an additional 3,504,740 shares in the last quarter. Swedbank AB purchased a new position in Sysco during the 1st quarter valued at about $178,824,000. The Manufacturers Life Insurance Company boosted its stake in Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after acquiring an additional 2,084,501 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Sysco by 49.8% in the second 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 during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Down 0.5 %

SYY opened at $74.14 on Friday. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.01 and a beta of 1.20. The firm has a 50 day moving average price of $75.81 and a 200-day moving average price of $75.60. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its earnings results 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 during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 EPS. Equities research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

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 given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s payout ratio is 49.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

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.