Sysco Co. (NYSE:SYY) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in Sysco Co. (NYSE:SYY) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,747 shares of the company’s stock after selling 2,738 shares during the period. Wedge Capital Management L L P NC’s holdings in Sysco were worth $11,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SYY. Renaissance Technologies LLC boosted its stake in Sysco by 39.2% in the second quarter. Renaissance Technologies LLC now owns 160,182 shares of the company’s stock valued at $11,435,000 after acquiring an additional 45,082 shares in the last quarter. Intech Investment Management LLC boosted its stake in Sysco by 362.2% in the second quarter. Intech Investment Management LLC now owns 14,244 shares of the company’s stock valued at $1,017,000 after acquiring an additional 11,162 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Sysco by 2.9% in the second quarter. Benjamin Edwards Inc. now owns 7,159 shares of the company’s stock valued at $511,000 after acquiring an additional 202 shares in the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of Sysco in the second quarter valued at about $1,916,000. Finally, AE Wealth Management LLC raised its holdings in shares of Sysco by 19.2% in the second quarter. AE Wealth Management LLC now owns 14,879 shares of the company’s stock valued at $1,062,000 after buying an additional 2,399 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SYY shares. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.93.

Sysco Trading Down 0.3 %

Shares of Sysco stock opened at $73.02 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market cap of $35.87 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The company has a 50-day moving average of $76.72 and a two-hundred day moving average of $75.77.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. Sysco’s dividend payout ratio is presently 52.44%.

Sysco Profile

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.