Mn Services Vermogensbeheer B.V. Cuts Position in Sysco Co. (NYSE:SYY)

Mn Services Vermogensbeheer B.V. cut its holdings in Sysco Co. (NYSE:SYY - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,400 shares of the company's stock after selling 14,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Sysco were worth $13,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYY. Brighton Jones LLC increased its position in shares of Sysco by 5.8% during the 1st quarter. Brighton Jones LLC now owns 86,578 shares of the company's stock valued at $6,497,000 after purchasing an additional 4,723 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Sysco by 11.1% during the first quarter. Exchange Traded Concepts LLC now owns 23,025 shares of the company's stock valued at $1,728,000 after buying an additional 2,296 shares during the period. Factory Mutual Insurance Co. purchased a new stake in Sysco during the first quarter worth about $5,966,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Sysco in the first quarter worth about $7,368,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in Sysco in the first quarter valued at about $202,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

NYSE SYY opened at $74.24 on Monday. The company's 50 day simple moving average is $71.98 and its two-hundred day simple moving average is $73.64. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The stock has a market capitalization of $35.99 billion, a PE ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly 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 business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the previous year, the business earned $0.96 EPS. The business's revenue was up 1.1% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.91%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is 55.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. 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. Finally, Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Transactions at Sysco

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

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.

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