Azzad Asset Management Inc. ADV Makes New Investment in Sysco Co. (NYSE:SYY)

Azzad Asset Management Inc. ADV purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,982 shares of the company's stock, valued at approximately $3,826,000.

A number of other institutional investors have also recently made changes to their positions in SYY. Boston Partners lifted its position in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Norges Bank purchased a new stake in Sysco during the 4th quarter worth $450,441,000. Capital Research Global Investors increased its stake in Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after buying an additional 1,928,002 shares during the period. Mondrian Investment Partners LTD bought a new stake in shares of Sysco in the 4th quarter worth about $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sysco in the 4th quarter valued at about $97,078,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Up 0.3%

Shares of Sysco stock traded up $0.20 during trading on Monday, reaching $74.49. The company's stock had a trading volume of 977,302 shares, compared to its average volume of 3,325,295. The company has a 50-day simple moving average of $71.98 and a two-hundred day simple moving average of $73.64. The company has a market cap of $36.11 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 0.81. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Barclays reduced their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective for the company. Finally, UBS Group reduced their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now owns 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

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.