Jacobs Levy Equity Management Inc. Acquires New Position in SYSCO Co. (NYSE:SYY)

Jacobs Levy Equity Management Inc. acquired a new position in SYSCO Co. (NYSE:SYY) in the first quarter, Holdings Channel reports. The fund acquired 299,606 shares of the company’s stock, valued at approximately $20,002,000.

A number of other large investors have also modified their holdings of the stock. Sontag Advisory LLC acquired a new position in shares of SYSCO during the 4th quarter worth about $25,000. Advisors Preferred LLC bought a new stake in SYSCO in the 1st quarter valued at $26,000. Athena Capital Advisors LLC bought a new stake in SYSCO in the 4th quarter valued at $29,000. Valley National Advisers Inc. raised its stake in SYSCO by 60.5% in the 4th quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after acquiring an additional 178 shares during the period. Finally, Murphy Pohlad Asset Management LLC bought a new stake in SYSCO in the 4th quarter valued at $31,000. 77.65% of the stock is owned by institutional investors.

A number of research firms recently weighed in on SYY. Morgan Stanley increased their price target on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Loop Capital increased their price target on SYSCO to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, Pivotal Research restated a “sell” rating and issued a $58.00 price target (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. SYSCO currently has an average rating of “Hold” and an average price target of $74.21.

NYSE SYY traded down $0.08 on Friday, reaching $72.44. The stock had a trading volume of 13,413 shares, compared to its average volume of 2,489,582. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $75.98. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.10 and a beta of 0.55.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The firm had revenue of $14.66 billion for the quarter, compared to analyst estimates of $14.78 billion. During the same period in the prior year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that SYSCO Co. will post 3.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 3rd. SYSCO’s dividend payout ratio is 49.68%.

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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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