Menta Capital LLC Buys New Stake in SYSCO Co. (SYY)

Menta Capital LLC acquired a new position in SYSCO Co. (NYSE:SYY) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,776 shares of the company’s stock, valued at approximately $386,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in SYSCO by 3.9% during the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock worth $3,047,170,000 after buying an additional 1,549,255 shares in the last quarter. BlackRock Inc. raised its position in SYSCO by 4.7% in the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after purchasing an additional 1,502,847 shares during the period. Oregon Public Employees Retirement Fund raised its position in SYSCO by 18,997.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after purchasing an additional 9,908,653 shares during the period. Parnassus Investments CA raised its position in SYSCO by 18.8% in the fourth quarter. Parnassus Investments CA now owns 8,359,497 shares of the company’s stock valued at $523,806,000 after purchasing an additional 1,320,866 shares during the period. Finally, Janus Henderson Group PLC raised its position in SYSCO by 8.7% in the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after purchasing an additional 633,041 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

SYY has been the topic of a number of research analyst reports. Pivotal Research restated a “sell” rating and issued a $54.00 target price on shares of SYSCO in a research report on Friday, February 1st. Buckingham Research boosted their price objective on SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Loop Capital set a $75.00 price objective on SYSCO and gave the company a “buy” rating in a report on Tuesday, February 5th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, March 19th. Finally, Morgan Stanley boosted their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.46.

SYY traded down $0.16 on Wednesday, hitting $74.39. 2,973,322 shares of the company were exchanged, compared to its average volume of 2,202,144. The stock has a market capitalization of $38.20 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.15 and a beta of 0.55. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $75.98. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, May 6th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. On average, research analysts anticipate that SYSCO Co. will post 3.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.10%. SYSCO’s dividend payout ratio is currently 49.68%.

In related news, Director Trian Fund Management, L.P. sold 707,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total value of $46,874,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.88% of the stock is owned by corporate insiders.

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About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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