Jupiter Asset Management Ltd. Purchases Shares of 43,439 Sysco Co. (NYSE:SYY)

Jupiter Asset Management Ltd. bought a new position in shares of Sysco Co. (NYSE:SYY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 43,439 shares of the company’s stock, valued at approximately $3,409,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Becker Capital Management Inc. raised its position in shares of Sysco by 1.2% during the 3rd quarter. Becker Capital Management Inc. now owns 10,800 shares of the company’s stock worth $848,000 after acquiring an additional 131 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in shares of Sysco by 0.6% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 22,312 shares of the company’s stock worth $1,752,000 after acquiring an additional 131 shares in the last quarter. Exeter Financial LLC raised its position in shares of Sysco by 0.7% during the 3rd quarter. Exeter Financial LLC now owns 19,795 shares of the company’s stock worth $1,554,000 after acquiring an additional 140 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Sysco by 1.2% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 12,413 shares of the company’s stock worth $965,000 after acquiring an additional 149 shares in the last quarter. Finally, Schnieders Capital Management LLC raised its position in shares of Sysco by 1.9% during the 2nd quarter. Schnieders Capital Management LLC now owns 8,050 shares of the company’s stock worth $626,000 after acquiring an additional 150 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of SYY stock opened at $79.79 on Friday. The business’s 50 day moving average is $75.88 and its two-hundred day moving average is $76.83. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $86.73. The company has a market capitalization of $40.90 billion, a P/E ratio of 60.45, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 6.36.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, November 9th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). Sysco had a net margin of 1.22% and a return on equity of 65.93%. The company had revenue of $16.46 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 3.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Shareholders of record on Tuesday, December 7th will be paid a $0.47 dividend. The ex-dividend date is Thursday, January 6th. This represents a $1.88 annualized dividend and a dividend yield of 2.36%. Sysco’s dividend payout ratio (DPR) is currently 142.43%.

SYY has been the topic of several research analyst reports. Morgan Stanley cut their target price on Sysco from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Sysco in a research note on Tuesday, January 4th. They set a “hold” rating and a $82.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Sysco from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, December 17th. Finally, Barclays upgraded Sysco from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, December 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.00.

Sysco Profile

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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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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