Tower Research Capital LLC TRC Acquires 26,229 Shares of Sysco Co. (NYSE:SYY)

Tower Research Capital LLC TRC boosted its position in Sysco Co. (NYSE:SYY - Free Report) by 231.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,574 shares of the company's stock after purchasing an additional 26,229 shares during the quarter. Tower Research Capital LLC TRC's holdings in Sysco were worth $2,873,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in shares of Sysco during the 3rd quarter valued at $390,000. Barclays PLC lifted its position in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after acquiring an additional 517,219 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of Sysco by 5.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company's stock valued at $664,000 after acquiring an additional 445 shares during the period. World Investment Advisors LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $610,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Sysco by 13.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 209,456 shares of the company's stock valued at $16,350,000 after acquiring an additional 24,866 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Barclays boosted their price target on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $85.07.

Sysco Price Performance

SYY traded down $1.68 on Friday, reaching $70.86. The stock had a trading volume of 3,719,482 shares, compared to its average volume of 3,362,262. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The firm has a 50-day moving average of $72.80 and a 200-day moving average of $74.44. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS 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 a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 3.05%. Sysco's dividend payout ratio is presently 55.53%.

Sysco 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.