Qsemble Capital Management LP grew its holdings in Sysco Co. (NYSE:SYY – Free Report) 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 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.
Get Our Latest Stock Report on Sysco
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.
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