Voya Investment Management LLC Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

Voya Investment Management LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 440,828 shares of the company's stock after selling 53,154 shares during the period. Voya Investment Management LLC owned about 0.09% of Sysco worth $33,706,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SYY. Stonebridge Financial Group LLC acquired a new stake in Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Stock Down 1.6 %

Shares of SYY traded down $1.17 during mid-day trading on Thursday, reaching $70.23. The company had a trading volume of 966,332 shares, compared to its average volume of 3,358,012. 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 firm has a 50-day moving average price of $72.73 and a 200 day moving average price of $74.36. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a market capitalization of $34.36 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last released 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). The business had revenue of $19.60 billion during 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 business'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, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 3.08%. Sysco's payout ratio is currently 55.96%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group reduced their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.07.

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.