GTS Securities LLC Sells 20,916 Shares of Sysco Co. (NYSE:SYY)

GTS Securities LLC reduced its stake in Sysco Co. (NYSE:SYY - Free Report) by 73.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,470 shares of the company's stock after selling 20,916 shares during the quarter. GTS Securities LLC's holdings in Sysco were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Parvin Asset Management LLC bought a new stake in shares of Sysco during the 4th quarter worth $29,000. Stonebridge Financial Group LLC purchased a new stake in Sysco during the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco in the 4th quarter worth about $31,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.54% of the company's stock.

Sysco Trading Down 1.0%

Shares of NYSE:SYY traded down $0.76 on Wednesday, hitting $71.52. The company had a trading volume of 2,002,676 shares, compared to its average volume of 3,342,119. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm's 50-day simple moving average is $71.67 and its two-hundred day simple moving average is $73.84. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. Sysco's dividend payout ratio is 55.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYY. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Guggenheim reiterated a "buy" rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Finally, Barclays cut their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

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.