Farmers & Merchants Investments Inc. Has $13.79 Million Stake in Sysco Co. (NYSE:SYY)

Farmers & Merchants Investments Inc. lowered its holdings in Sysco Co. (NYSE:SYY) by 1.8% in the second quarter, Holdings Channel reports. The firm owned 193,106 shares of the company’s stock after selling 3,567 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Sysco were worth $13,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in shares of Sysco by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,700 shares of the company’s stock valued at $417,000 after buying an additional 400 shares during the last quarter. Accretive Wealth Partners LLC raised its position in Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after acquiring an additional 212 shares in the last quarter. Private Advisor Group LLC lifted its stake in Sysco by 20.3% in the fourth quarter. Private Advisor Group LLC now owns 42,175 shares of the company’s stock valued at $3,084,000 after acquiring an additional 7,128 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Sysco by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,311 shares of the company’s stock valued at $204,640,000 after acquiring an additional 59,371 shares during the period. Finally, Gryphon Financial Partners LLC increased its stake in shares of Sysco by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after purchasing an additional 1,710 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock traded up $0.42 during midday trading on Friday, reaching $79.40. The company’s stock had a trading volume of 156,366 shares, compared to its average volume of 3,043,722. 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 stock has a market cap of $39.03 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The business has a 50-day moving average price of $74.47 and a 200-day moving average price of $75.84.

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

Sysco Dividend Announcement

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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.57%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

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.