Massachusetts Financial Services Co. MA Sells 3,891 Shares of Sysco Corporation (NYSE:SYY)

Massachusetts Financial Services Co. MA decreased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,757,235 shares of the company's stock after selling 3,891 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.36% of Sysco worth $131,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Sysco in the 4th quarter valued at $450,441,000. Capital Research Global Investors lifted its position in shares of Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after acquiring an additional 1,928,002 shares during the period. Canoe Financial LP lifted its position in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the period. Burgundy Asset Management Ltd. lifted its position in shares of Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after acquiring an additional 1,039,088 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Sysco by 9,792.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock valued at $74,978,000 after acquiring an additional 970,703 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.47 during mid-day trading on Friday, reaching $78.38. The stock had a trading volume of 2,333,164 shares, compared to its average volume of 3,246,459. The business's 50 day moving average price is $74.58 and its 200 day moving average price is $73.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market cap of $37.99 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period last year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is a positive change 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 2.76%. Sysco's payout ratio is presently 55.96%.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 356 shares of the business'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 transaction, the director owned 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday. Guggenheim reaffirmed a "buy" rating and set a $82.00 price target on shares of Sysco in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.23.

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.