Checchi Capital Advisers LLC cut its position in SYSCO Co. (NYSE:SYY) by 18.5% during the 1st quarter, HoldingsChannel reports. The firm owned 6,198 shares of the company’s stock after selling 1,407 shares during the quarter. Checchi Capital Advisers LLC’s holdings in SYSCO were worth $282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Norges Bank acquired a new stake in shares of SYSCO during the fourth quarter worth $404,942,000. Yacktman Asset Management LP raised its holdings in shares of SYSCO by 61.9% during the first quarter. Yacktman Asset Management LP now owns 6,157,606 shares of the company’s stock worth $280,972,000 after acquiring an additional 2,353,956 shares during the period. Janus Henderson Group PLC grew its position in SYSCO by 27.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,603,984 shares of the company’s stock valued at $821,522,000 after purchasing an additional 2,091,470 shares in the last quarter. Unigestion Holding SA bought a new position in SYSCO in the first quarter valued at $79,981,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in SYSCO by 66.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,279,862 shares of the company’s stock valued at $148,052,000 after purchasing an additional 1,309,272 shares in the last quarter. Institutional investors own 80.02% of the company’s stock.

Shares of SYSCO stock traded down $0.36 during trading on Friday, reaching $47.62. 7,648,791 shares of the company traded hands, compared to its average volume of 5,289,514. The company has a debt-to-equity ratio of 5.21, a current ratio of 1.49 and a quick ratio of 0.93. SYSCO Co. has a 1-year low of $26.00 and a 1-year high of $85.98. The company has a 50 day moving average price of $49.28 and a 200-day moving average price of $69.70. The firm has a market capitalization of $23.70 billion, a PE ratio of 18.11, a P/E/G ratio of 2.66 and a beta of 1.15.

SYSCO (NYSE:SYY) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.08). SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The company had revenue of $13.70 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The firm’s revenue was down 6.5% on a year-over-year basis. Equities research analysts expect that SYSCO Co. will post 2.23 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. SYSCO’s payout ratio is presently 50.70%.

A number of brokerages have recently commented on SYY. BMO Capital Markets downgraded shares of SYSCO from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $88.00 to $51.00 in a research report on Thursday, April 23rd. Jefferies Financial Group dropped their price objective on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of SYSCO from $78.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. ValuEngine upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Saturday, February 29th. Finally, Zacks Investment Research lowered shares of SYSCO from a “hold” rating to a “sell” rating and set a $62.00 price target on the stock. in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.23.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

Recommended Story: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.