Cetera Investment Advisers lifted its holdings in SYSCO Co. (NYSE:SYY) by 6.3% in the 1st quarter, HoldingsChannel reports. The firm owned 4,659 shares of the company’s stock after purchasing an additional 276 shares during the quarter. Cetera Investment Advisers’ holdings in SYSCO were worth $309,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in SYY. Oregon Public Employees Retirement Fund grew its stake in shares of SYSCO by 18,997.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock worth $159,000 after purchasing an additional 9,908,653 shares in the last quarter. Norges Bank bought a new position in shares of SYSCO in the fourth quarter worth $299,789,000. Vanguard Group Inc grew its stake in shares of SYSCO by 3.9% in the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock worth $3,047,170,000 after purchasing an additional 1,549,255 shares in the last quarter. BlackRock Inc. grew its stake in shares of SYSCO by 4.7% in the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock worth $2,106,966,000 after purchasing an additional 1,502,847 shares in the last quarter. Finally, Parnassus Investments CA grew its stake in shares of SYSCO by 18.8% in the fourth quarter. Parnassus Investments CA now owns 8,359,497 shares of the company’s stock worth $523,806,000 after purchasing an additional 1,320,866 shares in the last quarter. 80.61% of the stock is owned by institutional investors.

In related news, Director Trian Fund Management, L.P. sold 707,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.88% of the company’s stock.

Several research firms have recently issued reports on SYY. Loop Capital increased their price target on SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Tuesday, May 7th. Pivotal Research reissued 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. Buckingham Research increased their price target on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley increased their price target on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $74.46.

Shares of SYY stock opened at $74.64 on Friday. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The stock has a market cap of $37.71 billion, a P/E ratio of 23.77, a PEG ratio of 2.11 and a beta of 0.55. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 3.44.

SYSCO (NYSE:SYY) last announced its earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $14.78 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that SYSCO Co. will post 3.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 2.09%. SYSCO’s dividend payout ratio is currently 49.68%.

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SYSCO Company 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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