Assenagon Asset Management S.A. Purchases 1,551 Shares of Sysco Co. (NYSE:SYY)

Assenagon Asset Management S.A. boosted its position in shares of Sysco Co. (NYSE:SYY) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,997 shares of the company’s stock after purchasing an additional 1,551 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Sysco were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after acquiring an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after acquiring an additional 18,296 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Sysco in the 1st quarter valued at about $1,027,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 0.1 %

Shares of Sysco stock opened at $75.03 on Friday. Sysco Co. has a 12-month low of $65.19 and a 12-month high of $82.89. The stock has a market cap of $36.86 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.94 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business’s 50 day moving average is $76.19 and its 200-day moving average is $74.74.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYY. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

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.