Creative Planning Has $13.57 Million Stake in Sysco Co. (NYSE:SYY)

Creative Planning reduced its holdings in Sysco Co. (NYSE:SYY) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 190,062 shares of the company’s stock after selling 1,321 shares during the period. Creative Planning’s holdings in Sysco were worth $13,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital World Investors raised its holdings in Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares during the period. Ameriprise Financial Inc. grew its position in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares during the period. Capital Research Global Investors boosted its holdings in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after buying an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares during the period. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SYY. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Sysco stock opened at $78.06 on Tuesday. Sysco Co. has a 12 month low of $62.24 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 50 day simple moving average is $76.30 and its 200 day simple moving average is $75.39. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.61%. Sysco’s payout ratio is 49.76%.

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.