Forsta AP Fonden Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Forsta AP Fonden raised its position in shares of Sysco Co. (NYSE:SYY) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,600 shares of the company’s stock after acquiring an additional 13,100 shares during the period. Forsta AP Fonden’s holdings in Sysco were worth $15,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Plimoth Trust Co. LLC raised its holdings in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after acquiring an additional 141 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after acquiring an additional 146 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Sysco by 3.7% during the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after acquiring an additional 147 shares in the last quarter. Finally, Powers Advisory Group LLC raised its holdings in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after acquiring an additional 149 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent research reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased 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, JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

SYY opened at $73.92 on Friday. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The business’s fifty day simple moving average is $76.42 and its 200-day simple moving average is $74.78. The company has a market capitalization of $36.31 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, October 4th. Sysco’s 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.