Handelsbanken Fonder AB Trims Position in Sysco Co. (NYSE:SYY)

Handelsbanken Fonder AB lowered its stake in Sysco Co. (NYSE:SYY - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,122 shares of the company's stock after selling 10,058 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Sysco worth $21,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Terra Alpha Investments LLC raised its holdings in shares of Sysco by 4.7% during the first quarter. Terra Alpha Investments LLC now owns 19,923 shares of the company's stock worth $1,495,000 after acquiring an additional 902 shares in the last quarter. Petredis Investment Advisors LLC boosted its position in shares of Sysco by 1.0% in the first quarter. Petredis Investment Advisors LLC now owns 28,384 shares of the company's stock valued at $2,130,000 after acquiring an additional 286 shares during the period. Sanibel Captiva Trust Company Inc. lifted its stake in shares of Sysco by 5.1% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 26,217 shares of the company's stock valued at $1,967,000 after buying an additional 1,267 shares during the period. Curated Wealth Partners LLC grew its holdings in shares of Sysco by 3.7% during the 1st quarter. Curated Wealth Partners LLC now owns 16,659 shares of the company's stock worth $1,250,000 after purchasing an additional 599 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services increased its holdings in Sysco by 25.2% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,927 shares of the company's stock valued at $370,000 after buying an additional 993 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average target price of $83.00.

Sysco Price Performance

Shares of Sysco stock traded up $0.67 on Thursday, reaching $75.41. The stock had a trading volume of 2,420,435 shares, compared to its average volume of 3,330,780. The business's 50 day moving average is $71.73 and its two-hundred day moving average is $73.71. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market cap of $36.56 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81.

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

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is presently 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.