Pacer Advisors Inc. Takes $3.24 Million Position in SYSCO Co. (NYSE:SYY)

Pacer Advisors Inc. bought a new stake in shares of SYSCO Co. (NYSE:SYY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 59,276 shares of the company’s stock, valued at approximately $3,240,000.

Several other institutional investors have also added to or reduced their stakes in SYY. TFG Advisers LLC purchased a new position in shares of SYSCO during the 4th quarter valued at approximately $34,000. Quadrant Capital Group LLC raised its position in shares of SYSCO by 19.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,550 shares of the company’s stock valued at $284,000 after acquiring an additional 571 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in shares of SYSCO by 55.0% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 41,862 shares of the company’s stock valued at $1,910,000 after acquiring an additional 14,857 shares in the last quarter. IMS Capital Management raised its position in shares of SYSCO by 105.6% during the 1st quarter. IMS Capital Management now owns 5,074 shares of the company’s stock valued at $232,000 after acquiring an additional 2,606 shares in the last quarter. Finally, Nexus Investment Management Inc. raised its position in shares of SYSCO by 14.0% during the 1st quarter. Nexus Investment Management Inc. now owns 12,200 shares of the company’s stock valued at $557,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

Shares of SYY opened at $52.85 on Friday. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.12. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.93 and a current ratio of 1.49. SYSCO Co. has a one year low of $26.00 and a one year high of $85.98. The stock’s fifty day moving average is $54.03 and its 200-day moving average is $58.98.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.08). SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The business had revenue of $13.70 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period last year, the business posted $0.79 earnings per share. SYSCO’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts forecast that SYSCO Co. will post 1.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Thursday, July 2nd were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, July 1st. This represents a $1.80 annualized dividend and a yield of 3.41%. SYSCO’s dividend payout ratio is currently 50.70%.

In other news, Director Joshua D. Frank bought 600,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $47.42 per share, with a total value of $28,452,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trian Fund Management, L.P. bought 703,700 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $51.38 per share, with a total value of $36,156,106.00. The disclosure for this purchase can be found here. Company insiders own 5.24% of the company’s stock.

Several research firms recently issued reports on SYY. Zacks Investment Research lowered SYSCO from a “hold” rating to a “sell” rating and set a $62.00 price target on the stock. in a research report on Saturday, May 2nd. Wells Fargo & Co raised SYSCO from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $70.00 in a research report on Friday, June 5th. Piper Sandler reaffirmed a “buy” rating and issued a $64.00 target price on shares of SYSCO in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their target price on SYSCO from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, Credit Suisse Group dropped their target price on SYSCO from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.36.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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