Wedge Capital Management L L P NC Sells 18,793 Shares of Sysco Co. (NYSE:SYY)

Wedge Capital Management L L P NC trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,232 shares of the company’s stock after selling 18,793 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Sysco were worth $11,572,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. BluePath Capital Management LLC bought a new stake in Sysco in the third quarter valued at about $38,000. BKM Wealth Management LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in Sysco during the 3rd quarter worth $40,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.2 %

Sysco stock traded down $0.15 during trading on Tuesday, hitting $77.17. 172,899 shares of the company were exchanged, compared to its average volume of 2,890,454. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The business’s 50 day moving average is $79.33 and its 200 day moving average is $74.55. The company has a market capitalization of $38.42 billion, a P/E ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays increased their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

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.