Dillon & Associates Inc. trimmed its stake in shares of SYSCO Co. (NYSE:SYY) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 48,915 shares of the company’s stock after selling 290 shares during the quarter. Dillon & Associates Inc.’s holdings in SYSCO were worth $3,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SYY. Security National Trust Co. boosted its position in SYSCO by 6.4% during the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock worth $167,000 after purchasing an additional 150 shares in the last quarter. LVM Capital Management Ltd. MI boosted its position in SYSCO by 1.4% during the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock worth $753,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. lifted its position in shares of SYSCO by 1.1% in the fourth quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock valued at $936,000 after acquiring an additional 160 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of SYSCO by 1.8% in the fourth quarter. Financial Counselors Inc. now owns 8,904 shares of the company’s stock valued at $558,000 after acquiring an additional 161 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in SYSCO by 40.4% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. 80.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SYY opened at $73.63 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO Co. has a 52-week low of $59.44 and a 52-week high of $75.98. The stock has a market capitalization of $37.71 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.55.

SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business had revenue of $14.66 billion for the quarter, compared to analyst estimates of $14.78 billion. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that SYSCO Co. will post 3.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, April 4th. SYSCO’s payout ratio is 49.68%.

In other SYSCO news, Director Trian Fund Management, L.P. sold 707,000 shares of SYSCO stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total transaction of $46,874,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.88% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Bank of America cut SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Wednesday, January 16th. Zacks Investment Research downgraded SYSCO from a “hold” rating to a “sell” rating in a report on Monday, January 21st. Pivotal Research restated a “sell” rating and issued a $54.00 price target on shares of SYSCO in a research report on Friday, February 1st. Loop Capital set a $75.00 target price on SYSCO and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, Morgan Stanley boosted their target price on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. SYSCO has a consensus rating of “Hold” and a consensus target price of $74.46.

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SYSCO Profile

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.

Further Reading: What is a Lock-Up Period?

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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