Montrusco Bolton Investments Inc. Cuts Position in Sysco Corporation (NYSE:SYY)

Montrusco Bolton Investments Inc. trimmed its stake in Sysco Corporation (NYSE:SYY - Free Report) by 61.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 743,273 shares of the company's stock after selling 1,205,688 shares during the period. Sysco comprises 0.7% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 28th biggest holding. Montrusco Bolton Investments Inc. owned approximately 0.15% of Sysco worth $55,775,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rialto Wealth Management LLC increased its stake in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares during the period. Parvin Asset Management LLC purchased a new stake in Sysco during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in Sysco during the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in Sysco during the 4th quarter worth approximately $34,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SYY shares. 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. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Morgan Stanley upped their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $83.23.

Sysco Stock Up 0.6%

Shares of Sysco stock traded up $0.47 during trading hours on Friday, hitting $78.38. The company had a trading volume of 2,333,164 shares, compared to its average volume of 3,241,469. The company's 50-day moving average is $74.42 and its two-hundred day moving average is $73.31. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The company has a market cap of $37.99 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) 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 company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 2.76%. Sysco's dividend payout ratio is 55.96%.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the company'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 owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.