GAM Holding AG Has $1.38 Million Stock Holdings in Sysco Co. (NYSE:SYY)

GAM Holding AG decreased its position in Sysco Co. (NYSE:SYY) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,638 shares of the company’s stock after selling 143 shares during the period. GAM Holding AG’s holdings in Sysco were worth $1,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in Sysco during the 2nd quarter worth about $25,000. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. Fairscale Capital LLC bought a new position in Sysco in the 2nd quarter valued at about $38,000. LRI Investments LLC bought a new position in Sysco in the 1st quarter valued at about $45,000. Finally, Livelsberger Financial Advisory bought a new position in Sysco in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of analyst reports. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Bank of America dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.80 on Wednesday. The firm has a 50 day moving average of $76.53 and a 200 day moving average of $74.82. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The firm has a market capitalization of $36.74 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is presently 52.44%.

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.