Parallax Volatility Advisers L.P. Invests $2.16 Million in Sysco Co. (NYSE:SYY)

Parallax Volatility Advisers L.P. purchased a new position in Sysco Co. (NYSE:SYY - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,616 shares of the company's stock, valued at approximately $2,156,000.

A number of other large investors have also recently made changes to their positions in SYY. ProShare Advisors LLC grew its stake 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 worth $338,830,000 after acquiring an additional 2,408,226 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of 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 buying an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock worth $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco in the third quarter worth approximately $137,900,000. Finally, Primecap Management Co. CA boosted its holdings in shares of Sysco by 37.5% in the second quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company's stock worth $312,223,000 after buying an additional 1,192,650 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

Shares of SYY stock traded down $1.04 during mid-day trading on Friday, hitting $80.73. The company had a trading volume of 4,833,246 shares, compared to its average volume of 3,159,565. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The stock's 50 day moving average price is $76.00 and its 200-day moving average price is $74.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market capitalization of $39.66 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.09 and a beta of 1.19.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 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 during the quarter, compared to analysts' expectations of $20.47 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The company's revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.53%. Sysco's dividend payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SYY shares. 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 report on Wednesday, September 25th. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.77.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock valued at $2,786,971 over the last three months. 0.54% of the stock is owned by company insiders.

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.