Regal Investment Advisors LLC Has $1.52 Million Holdings in Sysco Co. (NYSE:SYY)

Regal Investment Advisors LLC cut its position in Sysco Co. (NYSE:SYYFree Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,774 shares of the company’s stock after selling 540 shares during the quarter. Regal Investment Advisors LLC’s holdings in Sysco were worth $1,519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Sysco by 11.0% during the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after buying an additional 1,076,287 shares during the period. Capital World Investors bought a new stake in shares of Sysco in the fourth quarter worth $683,599,000. Norges Bank bought a new stake in shares of Sysco in the fourth quarter worth $450,794,000. Northern Trust Corp raised its position in Sysco by 3.0% during the third quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after acquiring an additional 178,464 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on SYY. Barclays decreased their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. UBS Group decreased their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets decreased their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. Finally, Morgan Stanley dropped their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.10.

View Our Latest Analysis on SYY

Sysco Trading Down 0.5 %

Shares of SYY opened at $72.27 on Tuesday. The firm’s 50-day moving average price is $75.17 and its 200-day moving average price is $76.47. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.08 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYYGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.82%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is 48.78%.

Sysco Profile

(Free Report)

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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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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