Greenleaf Trust Lowers Stock Holdings in Sysco Corporation (NYSE:SYY)

Greenleaf Trust reduced its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,595 shares of the company's stock after selling 3,299 shares during the quarter. Greenleaf Trust's holdings in Sysco were worth $1,320,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Valeo Financial Advisors LLC boosted its position in shares of Sysco by 62.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,040 shares of the company's stock valued at $603,000 after purchasing an additional 3,078 shares during the period. Liberty One Investment Management LLC boosted its position in shares of Sysco by 3.4% in the 1st quarter. Liberty One Investment Management LLC now owns 337,297 shares of the company's stock valued at $25,311,000 after purchasing an additional 11,057 shares during the period. Walter Public Investments Inc. boosted its position in shares of Sysco by 23.8% in the 1st quarter. Walter Public Investments Inc. now owns 166,823 shares of the company's stock valued at $12,518,000 after purchasing an additional 32,088 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Sysco by 3.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 199,570 shares of the company's stock valued at $14,976,000 after purchasing an additional 7,503 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in Sysco by 0.4% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 55,336 shares of the company's stock worth $4,152,000 after acquiring an additional 208 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. BMO Capital Markets decreased their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group decreased their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $82.77.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm'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 transaction, the director owned 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 filing with the SEC, which is accessible through this link. Insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of SYY stock traded down $0.66 during trading hours on Friday, reaching $76.80. 3,049,106 shares of the company's stock were exchanged, compared to its average volume of 3,237,308. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market cap of $37.23 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company's 50 day moving average is $73.77 and its two-hundred day moving average is $73.30. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76.

Sysco (NYSE:SYY - Get Free Report) last posted 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 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period last year, the company posted $0.96 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is presently 55.96%.

Sysco 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.