Kerrisdale Advisers LLC Has $17.97 Million Stake in Sysco Co. (NYSE:SYY)

Kerrisdale Advisers LLC trimmed its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,021 shares of the company's stock after selling 16,905 shares during the quarter. Sysco accounts for approximately 6.1% of Kerrisdale Advisers LLC's portfolio, making the stock its 2nd largest holding. Kerrisdale Advisers LLC's holdings in Sysco were worth $17,970,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco in the 4th quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco in the 4th quarter worth $31,000. SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after acquiring an additional 321 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.3 %

Shares of SYY traded down $0.21 during mid-day trading on Tuesday, reaching $70.22. 2,615,501 shares of the company's stock traded hands, compared to its average volume of 3,366,364. The stock has a market cap of $34.35 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 0.91. The stock's 50-day moving average is $72.79 and its two-hundred day moving average is $74.41. Sysco Co. has a 12 month low of $66.14 and a 12 month 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 released its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Research analysts forecast 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. Investors 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. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is presently 55.53%.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Guggenheim reissued a "buy" rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $85.07.

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.