Pacer Advisors Inc. Purchases 13,525 Shares of Sysco Co. (NYSE:SYY)

Pacer Advisors Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 20.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,944 shares of the company’s stock after buying an additional 13,525 shares during the quarter. Pacer Advisors Inc.’s holdings in Sysco were worth $5,707,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Sysco by 0.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 100,523 shares of the company’s stock valued at $7,176,000 after purchasing an additional 810 shares in the last quarter. AE Wealth Management LLC grew its stake in Sysco by 19.2% in the second quarter. AE Wealth Management LLC now owns 14,879 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,399 shares in the last quarter. Bridges Investment Management Inc. bought a new position in Sysco in the second quarter valued at approximately $1,916,000. Benjamin Edwards Inc. grew its stake in Sysco by 2.9% in the second quarter. Benjamin Edwards Inc. now owns 7,159 shares of the company’s stock valued at $511,000 after purchasing an additional 202 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in Sysco by 362.2% in the second quarter. Intech Investment Management LLC now owns 14,244 shares of the company’s stock valued at $1,017,000 after purchasing an additional 11,162 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $76.17 on Tuesday. The stock has a market cap of $37.93 billion, a P/E ratio of 18.58, a PEG ratio of 2.01 and a beta of 1.20. The stock has a 50 day simple moving average of $75.96 and a 200 day simple moving average of $75.50. 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 1-year low of $62.24 and a 1-year high of $82.89.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Analyst Ratings Changes

SYY has been the subject of a number of analyst reports. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Finally, Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.55.

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.