ProShare Advisors LLC Has $174.83 Million Position in Sysco Co. (NYSE:SYY)

ProShare Advisors LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,263,809 shares of the company’s stock after acquiring an additional 196,294 shares during the quarter. ProShare Advisors LLC owned approximately 0.45% of Sysco worth $174,834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. Empower Advisory Group LLC acquired a new stake in shares of Sysco in the 1st quarter valued at $48,927,000. Toroso Investments LLC lifted its position in shares of Sysco by 6.4% in the first quarter. Toroso Investments LLC now owns 11,248 shares of the company’s stock worth $869,000 after buying an additional 678 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Sysco during the 1st quarter worth about $303,000. Ameriprise Financial Inc. increased its holdings in shares of Sysco by 16.3% during the 1st quarter. Ameriprise Financial Inc. now owns 6,361,969 shares of the company’s stock valued at $491,168,000 after acquiring an additional 892,672 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in shares of Sysco in the 1st quarter valued at approximately $980,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. StockNews.com assumed coverage on Sysco in a report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Truist Financial dropped their target price on shares of Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Stephens restated an “overweight” rating and set a $90.00 price target on shares of Sysco in a report on Tuesday, August 1st. Barclays lifted their price objective on Sysco from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $79.00 target price on shares of Sysco in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $86.91.

Sysco Stock Performance

Shares of SYY stock traded down $0.19 during mid-day trading on Wednesday, reaching $69.76. The stock had a trading volume of 459,509 shares, compared to its average volume of 2,417,429. The firm has a market cap of $35.22 billion, a PE ratio of 20.16, a P/E/G ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 1.24 and a debt-to-equity ratio of 5.15. Sysco Co. has a one year low of $68.18 and a one year high of $87.41. The firm’s 50 day simple moving average is $72.54 and its 200 day simple moving average is $73.67.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $19.73 billion for the quarter, compared to the consensus estimate of $19.95 billion. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 earnings per share. On average, analysts forecast that Sysco Co. will post 4.29 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, October 5th. Sysco’s dividend payout ratio is 57.64%.

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.