Bank of New York Mellon Corp Has $388.63 Million Stock Holdings in Sysco Corporation (NYSE:SYY)

Bank of New York Mellon Corp reduced its position in Sysco Corporation (NYSE:SYY - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,179,007 shares of the company's stock after selling 47,744 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of Sysco worth $388,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Boston Partners raised its stake in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after purchasing an additional 7,184,754 shares in the last quarter. Norges Bank acquired a new stake in shares of Sysco during the 4th quarter worth $450,441,000. Capital Research Global Investors grew its holdings in shares of Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD bought a new stake in shares of Sysco during the 4th quarter worth $123,928,000. Finally, Canoe Financial LP lifted its position in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after buying an additional 1,426,332 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred 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 sale, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

Sysco Stock Down 0.2%

NYSE:SYY traded down $0.18 during mid-day trading on Tuesday, reaching $76.53. The stock had a trading volume of 2,118,699 shares, compared to its average volume of 3,232,654. 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 stock's 50 day simple moving average is $73.40 and its two-hundred day simple moving average is $73.25. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a market capitalization of $37.10 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

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 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 return on equity of 107.96% and a net margin of 2.36%. Sysco's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Equities analysts anticipate that Sysco Corporation 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. 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 dividend on an annualized basis and a dividend yield of 2.82%. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 55.96%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SYY shares. BMO Capital Markets lowered 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. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.77.

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.