Sysco Co. (NYSE:SYY) Shares Purchased by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. grew its position in Sysco Co. (NYSE:SYY) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,070 shares of the company’s stock after buying an additional 498 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Sysco were worth $4,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Accretive Wealth Partners LLC grew its position in Sysco by 1.0% in the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after acquiring an additional 212 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Sysco by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock valued at $352,000 after purchasing an additional 1,710 shares in the last quarter. Gladstone Institutional Advisory LLC grew its holdings in shares of Sysco by 10.6% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,429 shares of the company’s stock valued at $324,000 after purchasing an additional 425 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Sysco by 28.3% during the 4th quarter. Franklin Resources Inc. now owns 424,407 shares of the company’s stock worth $31,037,000 after buying an additional 93,628 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Sysco by 8.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,824 shares of the company’s stock valued at $133,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 1.4 %

SYY stock opened at $75.19 on Friday. The company’s 50-day moving average price is $75.87 and its 200 day moving average price is $75.57. Sysco Co. has a 52 week low of $62.24 and a 52 week 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 company has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.55.

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.