Wellington Management Group LLP Has $303 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Wellington Management Group LLP decreased its stake in Sysco Co. (NYSE:SYY - Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,881,574 shares of the company's stock after selling 945,615 shares during the period. Wellington Management Group LLP owned 0.79% of Sysco worth $302,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco during the 3rd quarter worth $31,000. Finally, Focused Wealth Management Inc bought a new position in shares of Sysco in the third quarter worth $37,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Jefferies Financial Group upped 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. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Two investment 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, the company has an average rating of "Moderate Buy" and an average target price of $85.77.

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company's stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock worth $2,786,971 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Down 1.3 %

Shares of NYSE SYY traded down $1.04 during mid-day trading on Friday, hitting $80.73. 4,833,246 shares of the company traded hands, compared to its average volume of 2,577,383. 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 Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock has a market capitalization of $39.66 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.11 and a beta of 1.19. The business has a 50 day moving average of $76.06 and a two-hundred day moving average of $74.92.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to analysts' expectations of $20.47 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Sysco's quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is currently 52.44%.

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.