Allied Investment Advisors LLC Grows Stock Position in Sysco Co. (NYSE:SYY)

Allied Investment Advisors LLC increased its holdings in Sysco Co. (NYSE:SYY) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,333 shares of the company’s stock after buying an additional 3,635 shares during the quarter. Allied Investment Advisors LLC’s holdings in Sysco were worth $9,627,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its stake in shares of Sysco by 4.0% in the 4th quarter. Rafferty Asset Management LLC now owns 39,126 shares of the company’s stock worth $2,861,000 after purchasing an additional 1,502 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Sysco by 1.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 56,598 shares of the company’s stock worth $4,139,000 after buying an additional 669 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Sysco by 56.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 64,822 shares of the company’s stock worth $4,740,000 after buying an additional 23,316 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Sysco by 5.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 43,875 shares of the company’s stock valued at $3,209,000 after buying an additional 2,246 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its stake in shares of Sysco by 8.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 147,744 shares of the company’s stock valued at $10,804,000 after acquiring an additional 11,450 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America lowered their price target 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 upped their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley cut their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Price Performance

Shares of SYY traded down $0.22 during mid-day trading on Friday, hitting $75.41. 2,792,314 shares of the stock were exchanged, compared to its average volume of 4,208,693. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market cap of $37.07 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The firm has a 50-day moving average of $76.65 and a two-hundred day moving average of $75.35.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Sysco’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict 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 given 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 2.71%. Sysco’s dividend payout ratio (DPR) is presently 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.