Azzad Asset Management Inc. ADV Has $4.07 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Azzad Asset Management Inc. ADV trimmed its position in Sysco Co. (NYSE:SYY) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,137 shares of the company’s stock after selling 3,120 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Sysco were worth $4,070,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYY. Capital World Investors acquired a new stake in shares of Sysco in the 4th quarter valued at approximately $683,599,000. Norges Bank bought a new stake in Sysco during the 4th quarter worth approximately $450,794,000. Capital Research Global Investors bought a new stake in Sysco during the 4th quarter worth approximately $227,241,000. The Manufacturers Life Insurance Company increased its stake in Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in Sysco by 92.1% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock worth $191,596,000 after purchasing an additional 1,255,908 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYY. JPMorgan Chase & Co. lowered their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley lowered their target price on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised 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. Piper Sandler decreased their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group decreased their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.90.

Sysco Trading Down 0.6 %

Shares of Sysco stock traded down $0.39 during midday trading on Wednesday, reaching $70.20. The company had a trading volume of 442,042 shares, compared to its average volume of 3,156,587. The stock has a fifty day moving average price of $73.66 and a 200 day moving average price of $76.36. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market cap of $34.96 billion, a PE ratio of 17.20, a P/E/G ratio of 2.05 and a beta of 1.18. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.91%. Sysco’s payout ratio is 48.78%.

Sysco 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.