Distillate Capital Partners LLC Invests $15.84 Million in Sysco Co. (NYSE:SYY)

Distillate Capital Partners LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 221,932 shares of the company’s stock, valued at approximately $15,844,000.

A number of other institutional investors also recently bought and sold shares of SYY. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in shares of Sysco in the 1st quarter worth approximately $31,000. Burkett Financial Services LLC bought a new position in Sysco during the 4th quarter valued at approximately $30,000. Fairscale Capital LLC bought a new stake in Sysco in the second quarter worth $38,000. Finally, Fairman Group LLC purchased a new stake in shares of Sysco in the fourth quarter worth $39,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 1.3 %

NYSE:SYY opened at $76.17 on Tuesday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The business has a fifty day moving average price of $75.96 and a 200-day moving average price of $75.50. The firm has a market capitalization of $37.93 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. 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 (NYSE:SYY) last posted its quarterly earnings data 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. 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 analysts’ expectations of $20.51 billion. During the same period in the previous year, the firm earned $1.34 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend 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 is presently 49.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. Finally, Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.