MGO One Seven LLC Raises Stock Holdings in Sysco Co. (NYSE:SYY)

MGO One Seven LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 39.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,287 shares of the company’s stock after acquiring an additional 2,909 shares during the period. MGO One Seven LLC’s holdings in Sysco were worth $787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Boston Partners grew its holdings in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new stake in Sysco in the 4th quarter worth approximately $450,441,000. Capital Research Global Investors raised its holdings in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after acquiring an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in Sysco in the 4th quarter valued at $123,928,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sysco during the 4th quarter worth $97,078,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $70.86 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.88 and a beta of 0.91. The business has a 50-day moving average of $72.80 and a 200-day moving average of $74.43.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm posted $0.89 EPS. On average, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.05%. Sysco’s payout ratio is 55.53%.

Analyst Ratings Changes

A number of analysts have issued reports on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company increased their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.07.

Sysco Company 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.