Cambiar Investors LLC Grows Stock Holdings in Sysco Co. (NYSE:SYY)

Cambiar Investors LLC raised its stake in Sysco Co. (NYSE:SYY) by 40.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 615,702 shares of the company’s stock after buying an additional 177,425 shares during the period. Sysco makes up approximately 1.8% of Cambiar Investors LLC’s holdings, making the stock its 23rd largest holding. Cambiar Investors LLC’s holdings in Sysco were worth $48,062,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CacheTech Inc. lifted its stake in Sysco by 2.6% in the 3rd quarter. CacheTech Inc. now owns 29,571 shares of the company’s stock valued at $2,308,000 after buying an additional 749 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Sysco by 5.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 11,320 shares of the company’s stock valued at $884,000 after acquiring an additional 571 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Sysco during the 3rd quarter worth about $93,000. 1620 Investment Advisors Inc. raised its stake in Sysco by 8.7% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,479 shares of the company’s stock valued at $350,000 after purchasing an additional 359 shares during the last quarter. Finally, Cornerstone Wealth Group LLC purchased a new position in Sysco in the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYY. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Trading Up 0.1 %

NYSE SYY opened at $75.03 on Friday. The stock has a market cap of $36.86 billion, a P/E ratio of 19.29, a PEG ratio of 1.96 and a beta of 1.20. The company’s fifty day simple moving average is $76.19 and its 200-day simple moving average is $74.74. The company has a current ratio of 1.26, a quick ratio of 0.69 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52 week low of $65.19 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

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.