Lombard Odier Asset Management Europe Ltd Increases Stock Position in Sysco Co. (NYSE:SYY)

Lombard Odier Asset Management Europe Ltd raised its stake in shares of Sysco Co. (NYSE:SYY) by 134.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,757 shares of the company’s stock after acquiring an additional 25,090 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Sysco were worth $3,124,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SYY. ORG Partners LLC grew its position in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in Sysco during the 4th quarter worth approximately $841,000. Nebula Research & Development LLC acquired a new stake in Sysco during the 4th quarter worth approximately $916,000. Artisan Partners Limited Partnership boosted its position in Sysco by 11.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after buying an additional 62,556 shares during the period. Finally, Mizuho Markets Americas LLC grew its stake in shares of Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent research reports. Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Morgan Stanley decreased their price objective 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. Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.55.

Sysco Stock Up 1.3 %

Shares of NYSE:SYY opened at $76.17 on Tuesday. The firm has a 50 day simple moving average of $75.96 and a 200-day simple moving average of $75.50. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $37.93 billion, a PE ratio of 18.58, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 EPS. On average, equities analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm 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 $0.51 dividend. 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 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.