Aurdan Capital Management LLC Lowers Position in Sysco Corporation (NYSE:SYY)

Aurdan Capital Management LLC reduced its stake in Sysco Corporation (NYSE:SYY) by 28.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 50,114 shares of the company’s stock after selling 19,476 shares during the quarter. Sysco accounts for approximately 1.4% of Aurdan Capital Management LLC’s portfolio, making the stock its 19th biggest position. Aurdan Capital Management LLC’s holdings in Sysco were worth $3,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Vanguard Group Inc. lifted its position in shares of Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock worth $4,703,775,000 after buying an additional 429,711 shares in the last quarter. Invesco Ltd. lifted its position in shares of Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after buying an additional 851,441 shares in the last quarter. Boston Partners lifted its position in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock worth $905,120,000 after buying an additional 233,885 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after buying an additional 1,928,002 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director owned 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

Sysco Stock Down 0.2%

Shares of NYSE SYY opened at $76.39 on Thursday. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $73.63 and its two-hundred day simple moving average is $73.30. The stock has a market capitalization of $37.03 billion, a P/E ratio of 19.79, a PEG ratio of 2.31 and a beta of 0.81.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share 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 2.36% and a return on equity of 107.96%. Sysco’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. As a group, analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared 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 2.83%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 55.96%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price target on the stock. BMO Capital Markets cut their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Barclays reduced their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.77.

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.