Meyer Handelman Co. Trims Holdings in Sysco Co. (NYSE:SYY)

Meyer Handelman Co. lessened its stake in Sysco Co. (NYSE:SYY - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 503,704 shares of the company's stock after selling 14,523 shares during the quarter. Sysco accounts for approximately 1.3% of Meyer Handelman Co.'s portfolio, making the stock its 19th biggest position. Meyer Handelman Co. owned approximately 0.10% of Sysco worth $38,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. National Pension Service boosted its position in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company's stock worth $96,562,000 after acquiring an additional 166,798 shares in the last quarter. New England Asset Management Inc. lifted its stake in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company's stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. Empowered Funds LLC boosted its holdings in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company's stock valued at $6,115,000 after purchasing an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company's stock worth $9,706,000 after purchasing an additional 8,891 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

SYY stock traded up $0.15 on Wednesday, reaching $74.09. 1,936,881 shares of the company's stock were exchanged, compared to its average volume of 1,974,795. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a fifty day moving average of $76.94 and a 200-day moving average of $75.78. The firm has a market cap of $36.39 billion, a PE ratio of 19.05, a P/E/G ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, equities analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's dividend payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price on the stock. Melius Research raised Sysco to a "hold" rating in a report on Wednesday, December 18th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded Sysco from a "buy" rating to a "strong-buy" rating in a research note on Monday. Finally, Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average price target of $85.93.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company's stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock worth $6,485,050 in the last quarter. Company insiders own 0.54% of the company's stock.

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.