Kayne Anderson Rudnick Investment Management LLC Has $3.69 Million Holdings in Sysco Co. (NYSE:SYY)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 47.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,677 shares of the company’s stock after selling 46,256 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Sysco were worth $3,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its position in Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after buying an additional 124 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the period. Beacon Investment Advisors LLC lifted its holdings in Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the last quarter. Plimoth Trust Co. LLC boosted its position in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after purchasing an additional 139 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Sysco by 1.7% during the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays increased 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. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of SYY stock opened at $75.19 on Monday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The business’s 50 day simple moving average is $75.87 and its 200 day simple moving average is $75.52. The stock has a market capitalization of $37.44 billion, a PE ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last posted 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. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. 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.