Fairview Capital Investment Management LLC Sells 11,274 Shares of Sysco Co. (NYSE:SYY)

Fairview Capital Investment Management LLC lowered its holdings in Sysco Co. (NYSE:SYY - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,453 shares of the company's stock after selling 11,274 shares during the quarter. Fairview Capital Investment Management LLC's holdings in Sysco were worth $12,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Boston Partners boosted its position in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank acquired a new position in shares of Sysco during the fourth quarter worth approximately $450,441,000. Capital Research Global Investors lifted its position in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Sysco during the fourth quarter worth approximately $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sysco during the fourth quarter worth approximately $97,078,000. Institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. UBS Group reduced their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, Guggenheim restated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $83.38.

Sysco Stock Down 1.2%

Shares of Sysco stock traded down $0.83 during trading hours on Friday, reaching $70.77. The company's stock had a trading volume of 2,400,998 shares, compared to its average volume of 3,361,300. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The company has a market capitalization of $34.31 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.80. The stock's fifty day simple moving average is $72.16 and its two-hundred day simple moving average is $74.13. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.05%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is currently 55.96%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.