Pacer Advisors Inc. Purchases 13,525 Shares of Sysco Co. (NYSE:SYY)

Pacer Advisors Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 20.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,944 shares of the company’s stock after acquiring an additional 13,525 shares during the period. Pacer Advisors Inc.’s holdings in Sysco were worth $5,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC lifted 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 buying an additional 6,855 shares during the period. Bridgefront Capital LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $841,000. Nebula Research & Development LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $916,000. Artisan Partners Limited Partnership lifted its stake in shares of Sysco by 11.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares during the period. Finally, Mizuho Markets Americas LLC lifted 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 purchasing an additional 70,660 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of SYY opened at $76.17 on Tuesday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock has a 50 day moving average price of $75.96 and a two-hundred day moving average price of $75.50. The firm has a market capitalization of $37.93 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is presently 49.76%.

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.