iA Global Asset Management Inc. Decreases Stake in Sysco Co. (NYSE:SYY)

iA Global Asset Management Inc. decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 34.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,630 shares of the company’s stock after selling 12,796 shares during the quarter. iA Global Asset Management Inc.’s holdings in Sysco were worth $1,923,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Czech National Bank raised its holdings in Sysco by 8.3% in the 2nd quarter. Czech National Bank now owns 94,895 shares of the company’s stock valued at $6,775,000 after acquiring an additional 7,302 shares during the last quarter. Park National Corp OH increased its holdings in shares of Sysco by 27.7% in the second quarter. Park National Corp OH now owns 21,093 shares of the company’s stock valued at $1,506,000 after purchasing an additional 4,575 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in Sysco by 11.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 5,183 shares of the company’s stock worth $370,000 after buying an additional 541 shares in the last quarter. Wedmont Private Capital boosted its stake in Sysco by 39.1% during the second quarter. Wedmont Private Capital now owns 6,429 shares of the company’s stock worth $464,000 after buying an additional 1,807 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Sysco by 8.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,019 shares of the company’s stock worth $358,000 after acquiring an additional 391 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % 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, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,279 shares of company stock valued at $2,786,971. Insiders own 0.54% of the company’s stock.

Sysco Stock Down 1.3 %

Shares of NYSE SYY opened at $80.73 on Monday. The stock has a market cap of $39.66 billion, a P/E ratio of 20.75, a PEG ratio of 2.12 and a beta of 1.19. The business’s fifty day simple moving average is $76.06 and its 200-day simple moving average is $74.94. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.53%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYY shares. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

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.