Mediolanum International Funds Ltd Raises Holdings in Sysco Co. (NYSE:SYY)

Mediolanum International Funds Ltd lifted its stake in Sysco Co. (NYSE:SYY) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,877 shares of the company’s stock after purchasing an additional 18,459 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Sysco were worth $15,419,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the second quarter valued at about $25,000. Armstrong Advisory Group Inc. increased its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. Fairscale Capital LLC purchased a new position in Sysco during the 2nd quarter worth approximately $38,000. LRI Investments LLC acquired a new stake in Sysco during the 1st quarter valued at approximately $45,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Sysco in the 3rd quarter valued at $47,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE SYY traded down $0.13 on Friday, hitting $74.25. The company had a trading volume of 657,388 shares, compared to its average volume of 3,139,078. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company’s fifty day moving average price is $76.51 and its 200-day moving average price is $74.82. The company has a market capitalization of $36.47 billion, a PE ratio of 19.12, a PEG ratio of 1.95 and a beta of 1.20. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Barclays upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

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.