Sysco Co. (NYSE:SYY) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lessened its position in Sysco Co. (NYSE:SYY - Free Report) by 66.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,428 shares of the company's stock after selling 475,842 shares during the quarter. Voloridge Investment Management LLC's holdings in Sysco were worth $18,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Boston Partners lifted its position in shares of 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 acquiring an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new position in Sysco during the fourth quarter worth approximately $450,441,000. Capital Research Global Investors lifted its position in 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 buying an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD purchased a new position in Sysco during the fourth quarter worth approximately $123,928,000. Finally, Raymond James Financial Inc. purchased a new position in Sysco during the fourth quarter worth approximately $97,078,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Barclays cut their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Sysco Trading Down 0.4%

Shares of NYSE SYY traded down $0.30 during trading on Wednesday, reaching $71.98. The stock had a trading volume of 621,938 shares, compared to its average volume of 3,339,710. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The business's 50-day moving average price is $71.66 and its 200-day moving average price is $73.85. The company has a market cap of $34.89 billion, a P/E ratio of 18.49, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The company 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 company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.00%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is 55.96%.

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.