Mitchell Capital Management Co. boosted its position in Sysco Co. (NYSE:SYY) by 7.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 21,925 shares of the company’s stock after buying an additional 1,587 shares during the quarter. Mitchell Capital Management Co.’s holdings in Sysco were worth $1,705,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SYY. Lazard Asset Management LLC boosted its holdings in Sysco by 61.7% in the first quarter. Lazard Asset Management LLC now owns 6,441,428 shares of the company’s stock valued at $507,197,000 after acquiring an additional 2,457,144 shares during the last quarter. Primecap Management Co. CA bought a new position in Sysco during the first quarter worth about $94,779,000. Candlestick Capital Management LP bought a new position in Sysco during the first quarter worth about $83,517,000. Canada Pension Plan Investment Board boosted its holdings in Sysco by 529.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,077,151 shares of the company’s stock worth $84,815,000 after buying an additional 906,141 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Sysco during the first quarter worth about $58,630,000. Institutional investors and hedge funds own 79.81% of the company’s stock.
SYY has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Sysco in a report on Thursday, July 29th. They set a “buy” rating and a $89.00 target price on the stock. Barclays raised their price target on Sysco from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 21st. Finally, Morgan Stanley boosted their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, May 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.78.
NYSE:SYY opened at $75.78 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 6.82. Sysco Co. has a twelve month low of $53.85 and a twelve month high of $86.73. The stock’s 50 day moving average price is $75.77 and its two-hundred day moving average price is $78.77. The firm has a market capitalization of $38.81 billion, a price-to-earnings ratio of 75.03, a price-to-earnings-growth ratio of 2.44 and a beta of 1.45.
Sysco (NYSE:SYY) last issued its earnings results on Monday, August 9th. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.11. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The company had revenue of $16.14 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the company posted ($0.29) EPS. The firm’s revenue for the quarter was up 82.0% compared to the same quarter last year. As a group, analysts anticipate that Sysco Co. will post 3.49 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a dividend yield of 2.4%. Sysco’s dividend payout ratio is currently 130.56%.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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