Marshall Wace LLP Cuts Stock Position in Sysco Co. (NYSE:SYY)

Marshall Wace LLP trimmed its position in shares of Sysco Co. (NYSE:SYY) by 95.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,500 shares of the company’s stock after selling 100,692 shares during the quarter. Marshall Wace LLP’s holdings in Sysco were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of SYY. Capital Research Global Investors raised its holdings in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new position in Sysco in the first quarter worth about $178,824,000. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, Capital World Investors raised its holdings in Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 0.8 %

Shares of SYY stock opened at $74.42 on Friday. The stock’s fifty day moving average is $76.53 and its two-hundred day moving average is $75.12. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a market capitalization of $37.06 billion, a P/E ratio of 18.15, a PEG ratio of 1.94 and a beta of 1.20. Sysco Co. has a fifty-two week low of $62.45 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYY. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Morgan Stanley cut their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Company 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.