Sysco Co. (NYSE:SYY) Holdings Decreased by Meyer Handelman Co.

Meyer Handelman Co. trimmed its position in Sysco Co. (NYSE:SYY) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 496,274 shares of the company’s stock after selling 7,430 shares during the quarter. Sysco makes up approximately 1.3% of Meyer Handelman Co.’s holdings, making the stock its 22nd largest position. Meyer Handelman Co. owned 0.10% of Sysco worth $37,240,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Buckley Wealth Management LLC increased its position in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after buying an additional 150 shares during the period. WR Wealth Planners LLC increased its position in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares during the period. Boston Trust Walden Corp increased its position in Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock worth $61,500,000 after buying an additional 516,585 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Sysco in the fourth quarter worth $54,000. Finally, Empower Advisory Group LLC increased its position in Sysco by 4.1% in the fourth quarter. Empower Advisory Group LLC now owns 1,054,448 shares of the company’s stock worth $80,623,000 after buying an additional 41,944 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SYY shares. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. UBS Group decreased their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Citigroup began coverage on Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price target for the company. Finally, Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Trading Up 1.3%

Shares of SYY stock opened at $72.99 on Friday. The stock has a 50-day simple moving average of $71.73 and a 200 day simple moving average of $73.77. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The stock has a market capitalization of $35.38 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.88 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the business earned $0.96 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.96%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio is currently 55.96%.

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.