Sysco Co. (NYSE:SYY) Stake Trimmed by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its position in shares of Sysco Co. (NYSE:SYY) by 59.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,948,961 shares of the company’s stock after selling 2,841,704 shares during the quarter. Sysco accounts for 1.7% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 21st largest position. Montrusco Bolton Investments Inc.’s holdings in Sysco were worth $142,159,000 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. Fortem Financial Group LLC boosted its position in Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after acquiring an additional 136 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares in the last quarter. Cable Hill Partners LLC boosted its holdings in shares of Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group grew its position in Sysco by 12.3% during the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock valued at $108,000 after purchasing an additional 154 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in Sysco by 1.1% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock valued at $1,217,000 after buying an additional 178 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 5.9 %

Sysco stock opened at $72.35 on Wednesday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a fifty day moving average price of $76.43 and a two-hundred day moving average price of $76.03. The firm has a market cap of $35.54 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SYY shares. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Morgan Stanley reduced their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Barclays dropped their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $85.57.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction 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 sale, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,306 shares of company stock worth $6,485,050. 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.