Vident Advisory LLC Has $665,000 Stake in Sysco Co. (NYSE:SYY)

Vident Advisory LLC lowered its stake in Sysco Co. (NYSE:SYY) by 83.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,699 shares of the company’s stock after selling 42,408 shares during the period. Vident Advisory LLC’s holdings in Sysco were worth $665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. WBI Investments LLC boosted its position in Sysco by 13.6% in the 4th quarter. WBI Investments LLC now owns 7,703 shares of the company’s stock valued at $589,000 after buying an additional 920 shares during the last quarter. Wimmer Associates 1 LLC lifted its stake in shares of Sysco by 1.5% during the fourth quarter. Wimmer Associates 1 LLC now owns 15,902 shares of the company’s stock valued at $1,216,000 after acquiring an additional 230 shares during the period. Triglav Skladi D.O.O. bought a new position in Sysco in the fourth quarter valued at about $1,529,000. Tidal Investments LLC increased its position in Sysco by 6.2% in the fourth quarter. Tidal Investments LLC now owns 39,319 shares of the company’s stock worth $3,006,000 after purchasing an additional 2,289 shares during the period. Finally, Tolleson Wealth Management Inc. increased its position in Sysco by 21.7% in the fourth quarter. Tolleson Wealth Management Inc. now owns 9,623 shares of the company’s stock worth $736,000 after purchasing an additional 1,715 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent research reports. Barclays reduced 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, April 30th. UBS Group dropped their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Citigroup assumed coverage on shares of Sysco in a research note on Thursday. They set a “neutral” rating and a $78.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the company’s 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 transaction, the director now owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.6%

Shares of NYSE:SYY opened at $71.51 on Monday. Sysco Co. has a 52 week low of $67.12 and a 52 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 company has a market capitalization of $34.67 billion, a PE ratio of 18.38, a PEG ratio of 1.88 and a beta of 0.80. The company has a 50 day moving average price of $71.65 and a two-hundred day moving average price of $73.90.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is presently 55.96%.

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.