Quantinno Capital Management LP Purchases 58,740 Shares of Sysco Co. (NYSE:SYY)

Quantinno Capital Management LP grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 97.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,134 shares of the company's stock after buying an additional 58,740 shares during the quarter. Quantinno Capital Management LP's holdings in Sysco were worth $9,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new stake in Sysco during the 4th quarter valued at $450,441,000. Capital Research Global Investors lifted its position in shares of Sysco by 27.3% in 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 period. Mondrian Investment Partners LTD purchased a new position in Sysco during the 4th quarter valued at about $123,928,000. Finally, Raymond James Financial Inc. purchased a new position in Sysco during the 4th quarter valued at about $97,078,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock traded up $0.51 during trading on Monday, hitting $72.95. 2,024,127 shares of the company's stock traded hands, compared to its average volume of 3,362,392. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market cap of $35.36 billion, a PE ratio of 18.75, a PEG ratio of 1.88 and a beta of 0.80. The firm's fifty day moving average price is $71.78 and its 200 day moving average price is $74.03. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share 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 analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was 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 directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYY. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Guggenheim restated a "buy" rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Truist Financial lowered their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.38.

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.