Tdam USA Inc. cut its holdings in SYSCO Co. (NYSE:SYY) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,293 shares of the company’s stock after selling 1,040 shares during the quarter. Tdam USA Inc.’s holdings in SYSCO were worth $1,859,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Parnassus Investments CA boosted its position in shares of SYSCO by 4.7% during the first quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock worth $584,323,000 after purchasing an additional 393,096 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of SYSCO by 8.7% during the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock worth $530,645,000 after purchasing an additional 633,041 shares in the last quarter. Northern Trust Corp boosted its position in shares of SYSCO by 3.1% during the first quarter. Northern Trust Corp now owns 6,625,261 shares of the company’s stock worth $442,302,000 after purchasing an additional 197,233 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SYSCO by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after purchasing an additional 1,076,459 shares in the last quarter. Finally, FMR LLC boosted its position in shares of SYSCO by 29.4% during the first quarter. FMR LLC now owns 5,749,922 shares of the company’s stock worth $383,865,000 after purchasing an additional 1,306,410 shares in the last quarter. 78.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SYY traded down $0.71 during midday trading on Wednesday, reaching $72.65. 102,867 shares of the company were exchanged, compared to its average volume of 2,775,469. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. The stock’s fifty day moving average price is $70.85. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.87 and a beta of 0.52.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same period last year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that SYSCO Co. will post 3.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. SYSCO’s payout ratio is 49.68%.

SYY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Barclays lifted their price target on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Credit Suisse Group lifted their price target on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Loop Capital lifted their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. SYSCO has a consensus rating of “Hold” and an average price target of $74.48.

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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