Sysco Co. (NYSE:SYY) Shares Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP grew its holdings in Sysco Co. (NYSE:SYY) by 49.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,576 shares of the company’s stock after buying an additional 6,812 shares during the period. Qsemble Capital Management LP’s holdings in Sysco were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SYY. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth about $25,000. Verity & Verity LLC acquired a new stake in Sysco during the first quarter worth about $26,000. Burkett Financial Services LLC acquired a new stake in Sysco during the fourth quarter worth about $30,000. OFI Invest Asset Management acquired a new stake in Sysco during the first quarter worth about $31,000. Finally, Fairman Group LLC acquired a new stake in Sysco during the fourth quarter worth about $39,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 1.0 %

Shares of Sysco stock opened at $76.97 on Friday. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a 50 day moving average of $75.20 and a 200 day moving average of $75.77. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $37.83 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.99 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping 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 analysts’ expectations of $20.51 billion. During the same quarter last year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

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 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 2.65%. Sysco’s payout ratio is currently 49.76%.

Analyst Ratings Changes

SYY has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Barclays increased 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 Wednesday, July 31st. Finally, Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.27.

About Sysco

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.