Worldquant Millennium Advisors LLC Makes New $44.72 Million Investment in Sysco Co. (NYSE:SYY)

Worldquant Millennium Advisors LLC bought a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 572,923 shares of the company's stock, valued at approximately $44,722,000. Worldquant Millennium Advisors LLC owned approximately 0.12% of Sysco as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. ProShare Advisors LLC raised its position in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 49.8% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. boosted its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Sysco in the 3rd quarter valued at $137,900,000. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the business's stock in a transaction dated 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. The trade was a 26.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,279 shares of company stock worth $2,786,971. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Down 1.3 %

NYSE:SYY traded down $1.04 on Friday, reaching $80.73. The company's stock had a trading volume of 4,833,246 shares, compared to its average volume of 2,577,383. The firm has a market cap of $39.66 billion, a PE ratio of 20.75, a PEG ratio of 2.11 and a beta of 1.19. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The business's 50-day moving average price is $76.00 and its two-hundred day moving average price is $74.89. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

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

Sysco Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on SYY. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the company 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. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.77.

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.