GAM Holding AG Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

GAM Holding AG trimmed its position in shares of Sysco Co. (NYSE:SYY) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,638 shares of the company’s stock after selling 143 shares during the quarter. GAM Holding AG’s holdings in Sysco were worth $1,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Global Assets Advisory LLC purchased a new position in shares of Sysco in the 1st quarter valued at approximately $1,145,000. Wealthcare Advisory Partners LLC raised its position in shares of Sysco by 5.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,314 shares of the company’s stock valued at $837,000 after purchasing an additional 559 shares during the last quarter. Agate Pass Investment Management LLC increased its holdings in Sysco by 3.0% in the 1st quarter. Agate Pass Investment Management LLC now owns 15,368 shares of the company’s stock worth $1,248,000 after buying an additional 445 shares during the period. Exeter Financial LLC increased its holdings in Sysco by 2.8% in the 1st quarter. Exeter Financial LLC now owns 16,507 shares of the company’s stock worth $1,264,000 after buying an additional 456 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Sysco by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,434 shares of the company’s stock worth $13,024,000 after buying an additional 4,709 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 0.1 %

Sysco stock opened at $74.80 on Wednesday. The stock has a market cap of $36.74 billion, a PE ratio of 19.23, a P/E/G ratio of 1.97 and a beta of 1.20. The stock has a 50-day moving average price of $76.53 and a 200 day moving average price of $74.82. Sysco Co. has a 52 week low of $64.28 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.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for 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 was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Equities research analysts predict 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. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYY. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

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.