Vision Capital Management Inc. Sells 7,446 Shares of Sysco Co. (NYSE:SYY)

Vision Capital Management Inc. cut its position in shares of Sysco Co. (NYSE:SYY) by 37.1% during the 4th quarter, HoldingsChannel reports. The firm owned 12,645 shares of the company’s stock after selling 7,446 shares during the period. Vision Capital Management Inc.’s holdings in Sysco were worth $967,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. National Pension Service raised its stake in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the last quarter. New England Asset Management Inc. grew its holdings in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after purchasing an additional 14,810 shares during the period. Empowered Funds LLC boosted its stake in shares of Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $71.38 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The stock has a market capitalization of $34.92 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The stock’s 50-day moving average price is $76.11 and its 200-day moving average price is $75.99.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business posted $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. UBS Group dropped their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is currently owned by company insiders.

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.