Scott & Selber Inc. boosted its position in shares of SYSCO Co. (NYSE:SYY) by 120.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,077 shares of the company’s stock after acquiring an additional 17,505 shares during the period. Scott & Selber Inc.’s holdings in SYSCO were worth $2,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in shares of SYSCO during the 1st quarter worth approximately $26,000. Coastal Capital Group Inc. purchased a new stake in shares of SYSCO during the 2nd quarter worth approximately $29,000. Lenox Wealth Management Inc. lifted its position in shares of SYSCO by 163.7% during the 1st quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after buying an additional 298 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in shares of SYSCO by 40.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, WP Advisors LLC purchased a new stake in shares of SYSCO during the 1st quarter worth approximately $39,000. Institutional investors own 78.30% of the company’s stock.

Shares of NYSE:SYY traded up $0.90 on Tuesday, reaching $73.09. 109,317 shares of the company were exchanged, compared to its average volume of 2,922,094. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $75.98. The company has a market capitalization of $35.97 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52. The stock’s 50-day simple moving average is $70.81.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $15.65 billion. During the same period in the prior year, the company posted $0.94 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts expect that SYSCO Co. will post 3.5 earnings per share for the current year.

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 paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.13%. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.

SYY has been the subject of several research reports. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Morgan Stanley upped their price target on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Consumer Edge began coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective for the company. Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Tuesday, June 11th. Finally, Credit Suisse Group upped their price objective on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.05.

SYSCO Company Profile

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.

Featured Story: LIBOR

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.