Voloridge Investment Management LLC Has $18.31 Million Holdings in Sysco Co. (NYSE:SYY)

Voloridge Investment Management LLC lessened its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 66.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,428 shares of the company's stock after selling 475,842 shares during the period. Voloridge Investment Management LLC's holdings in Sysco were worth $18,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its stake 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 buying an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new position in Sysco in the 4th quarter worth approximately $450,441,000. Capital Research Global Investors grew its position in Sysco by 27.3% in the fourth 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 in the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Sysco during the fourth quarter valued at approximately $123,928,000. Finally, Raymond James Financial Inc. purchased a new stake in Sysco during the 4th quarter worth $97,078,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.9%

Sysco stock traded up $0.63 during trading hours on Tuesday, hitting $72.10. The company had a trading volume of 2,005,727 shares, compared to its average volume of 3,521,119. The firm's fifty day moving average is $71.64 and its 200-day moving average is $73.86. The firm has a market capitalization of $34.95 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. 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 current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share 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 analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.00%. 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. Sysco's payout ratio is currently 55.96%.

Insider Activity at Sysco

In other Sysco 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 completion of the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYY shares. UBS Group decreased their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. 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. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. BMO Capital Markets dropped their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.