Sysco Co. (NYSE:SYY) Shares Sold by Parallax Volatility Advisers L.P.

Parallax Volatility Advisers L.P. decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 47.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,615 shares of the company’s stock after selling 13,001 shares during the period. Parallax Volatility Advisers L.P.’s holdings in Sysco were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fortem Financial Group LLC increased its position in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares in the last quarter. MV Capital Management Inc. raised its position in shares of Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank lifted its stake in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after buying an additional 145 shares in the last quarter. Nemes Rush Group LLC boosted its position in Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after acquiring an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. Barclays raised their target price on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.07.

Sysco Stock Down 2.3 %

Sysco stock opened at $70.86 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a 50 day moving average price of $72.80 and a 200 day moving average price of $74.43. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a market capitalization of $34.67 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 firm earned $0.89 earnings per share. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This is an increase from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 55.53%.

About Sysco

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.