Sysco Corporation (NYSE:SYY) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC reduced its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 43.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,157 shares of the company's stock after selling 5,551 shares during the period. Moloney Securities Asset Management LLC's holdings in Sysco were worth $537,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group grew its holdings in Sysco by 15.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 19,616 shares of the company's stock worth $1,472,000 after acquiring an additional 2,597 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Sysco by 62.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,040 shares of the company's stock worth $603,000 after acquiring an additional 3,078 shares in the last quarter. Liberty One Investment Management LLC grew its holdings in Sysco by 3.4% during the 1st quarter. Liberty One Investment Management LLC now owns 337,297 shares of the company's stock worth $25,311,000 after acquiring an additional 11,057 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of Sysco by 23.8% in the 1st quarter. Walter Public Investments Inc. now owns 166,823 shares of the company's stock worth $12,518,000 after buying an additional 32,088 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Sysco by 3.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 199,570 shares of the company's stock worth $14,976,000 after buying an additional 7,503 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SYY shares. Guggenheim restated a "buy" rating and issued a $82.00 price target on shares of Sysco in a research report on Tuesday, July 8th. BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. raised their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus target price of $82.77.

Sysco Stock Performance

NYSE:SYY traded down $0.66 during mid-day trading on Friday, hitting $76.80. The stock had a trading volume of 3,049,106 shares, compared to its average volume of 3,242,861. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.32 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a 50 day simple moving average of $73.90 and a 200-day simple moving average of $73.24. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released 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 company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. On average, research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.81%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is currently 55.96%.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director owned 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 accessible through this link. 0.54% of the stock is owned by corporate insiders.

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.