Sysco Co. (NYSE:SYY) Shares Acquired by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. boosted its stake in Sysco Co. (NYSE:SYY) by 1,240.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 335 shares of the company’s stock after purchasing an additional 310 shares during the period. Armstrong Advisory Group Inc.’s holdings in Sysco were worth $26,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in shares of Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares during the period. Ameriprise Financial Inc. grew its stake in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Capital Research Global Investors increased its holdings in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYY shares. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Performance

Shares of SYY opened at $75.26 on Tuesday. The firm has a fifty day moving average of $76.54 and a 200-day moving average of $74.99. The company has a market cap of $36.97 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a 1 year low of $63.18 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period in the previous year, the business posted $1.34 EPS. Sysco’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.