Sysco Co. (NYSE:SYY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,179,075 shares of the company’s stock after selling 5,676,539 shares during the quarter. Wellington Management Group LLP owned approximately 3.05% of Sysco worth $1,110,046,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First United Bank & Trust purchased a new position in Sysco during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc grew its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Burkett Financial Services LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $30,000. Headlands Technologies LLC purchased a new stake in shares of Sysco during the 4th quarter worth about $34,000. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Sysco by 39.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded down $0.35 during mid-day trading on Friday, reaching $70.69. The company had a trading volume of 2,201,537 shares, compared to its average volume of 3,069,767. The company has a 50-day moving average price of $74.59 and a two-hundred day moving average price of $76.45. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The stock has a market cap of $35.20 billion, a PE ratio of 17.24, a P/E/G ratio of 2.03 and a beta of 1.17. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the company posted $0.90 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Sysco’s dividend payout ratio is 48.78%.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Morgan Stanley reduced their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Finally, Barclays dropped their target price on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.10.

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.