GAM Holding AG Raises Stock Position in Sysco Corporation (NYSE:SYY)

GAM Holding AG increased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,195 shares of the company's stock after acquiring an additional 3,486 shares during the quarter. GAM Holding AG's holdings in Sysco were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after purchasing an additional 429,711 shares during the last quarter. Invesco Ltd. boosted its stake in Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners boosted its stake in 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 purchasing an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Finally, Capital Research Global Investors boosted 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 purchasing an additional 1,928,002 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 1.0%

Shares of SYY opened at $74.71 on Friday. The firm has a market cap of $36.21 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.81. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The company's 50-day moving average price is $72.41 and its 200 day moving average price is $73.54. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 52.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SYY shares. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. BMO Capital Markets lowered their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays lowered their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Activity at Sysco

In other Sysco 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 sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Sysco Company Profile

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.

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