QRG Capital Management Inc. Has $1.82 Million Stock Holdings in Sysco Co. (NYSE:SYY)

QRG Capital Management Inc. lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 6.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 23,366 shares of the company’s stock after selling 1,638 shares during the period. QRG Capital Management Inc.’s holdings in Sysco were worth $1,824,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SYY. National Pension Service boosted its position in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares in the last quarter. ORG Partners LLC boosted its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Sysco by 11.6% during the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares in the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after purchasing an additional 9,615 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by insiders.

Sysco Stock Down 0.2 %

Shares of NYSE SYY opened at $76.87 on Friday. The firm has a market cap of $37.76 billion, a PE ratio of 19.76, a P/E/G ratio of 1.98 and a beta of 1.20. Sysco Co. has a 12-month low of $66.27 and a 12-month high of $82.89. The company’s fifty day simple moving average is $76.17 and its 200 day simple moving average is $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

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.