Cresset Asset Management LLC Sells 57,651 Shares of Sysco Co. (NYSE:SYY)

Cresset Asset Management LLC cut its position in Sysco Co. (NYSE:SYY - Free Report) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,015 shares of the company's stock after selling 57,651 shares during the quarter. Cresset Asset Management LLC's holdings in Sysco were worth $8,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Buckley Wealth Management LLC grew 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 valued at $1,391,000 after acquiring an additional 150 shares during the last quarter. WR Wealth Planners LLC lifted its stake in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after buying an additional 386 shares during the period. Clark & Stuart Inc acquired a new position in Sysco in the fourth quarter valued at approximately $7,613,000. Boston Trust Walden Corp raised its position in shares of Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after purchasing an additional 516,585 shares during the period. Finally, Lmcg Investments LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $3,668,000. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Sysco presently has an average rating of "Moderate Buy" and an average price target of $83.38.

Sysco Stock Performance

Shares of NYSE:SYY traded down $0.83 during midday trading on Tuesday, reaching $71.10. 1,125,248 shares of the company's stock traded hands, compared to its average volume of 3,352,759. The company has a market cap of $34.47 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 0.80. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The stock has a 50 day moving average of $72.11 and a 200 day moving average of $74.12.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.04%. Sysco's dividend payout ratio is presently 55.96%.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company's stock.

Sysco Company Profile

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.