Sysco Co. (NYSE:SYY) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,634 shares of the company’s stock after purchasing an additional 192 shares during the period. Checchi Capital Advisers LLC’s holdings in Sysco were worth $418,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SYY. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Sysco by 93,506.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 132,992,967 shares of the company’s stock worth $9,868,078,000 after acquiring an additional 132,850,890 shares during the period. Wellington Management Group LLP grew its stake in shares of Sysco by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 32,536,930 shares of the company’s stock valued at $2,512,827,000 after buying an additional 1,408,716 shares during the period. BlackRock Inc. increased its holdings in shares of Sysco by 1.1% during the 1st quarter. BlackRock Inc. now owns 32,382,737 shares of the company’s stock worth $2,500,919,000 after buying an additional 346,458 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sysco by 0.6% during the 1st quarter. JPMorgan Chase & Co. now owns 15,735,594 shares of the company’s stock valued at $1,215,261,000 after buying an additional 100,884 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in Sysco by 0.4% in the second quarter. Parnassus Investments LLC now owns 13,660,024 shares of the company’s stock valued at $1,013,574,000 after acquiring an additional 57,317 shares during the last quarter. 80.60% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 0.3 %

NYSE SYY opened at $70.89 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 5.04. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $87.21. The stock has a market capitalization of $35.75 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.13. The firm has a 50 day moving average of $66.79 and a two-hundred day moving average of $70.75.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. Sysco had a net margin of 2.35% and a return on equity of 117.17%. The company had revenue of $19.62 billion during the quarter, compared to analysts’ expectations of $19.73 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Sysco Co. will post 4.32 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, January 4th. Sysco’s payout ratio is 56.34%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SYY shares. Stephens cut their target price on Sysco from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, November 1st. StockNews.com began coverage on shares of Sysco in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sysco in a report on Thursday, October 19th. They issued a “buy” rating and a $75.00 price objective on the stock. Morgan Stanley raised their target price on Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, November 1st. Finally, Barclays reduced their price target on shares of Sysco from $86.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, October 23rd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $83.30.

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.