Public Sector Pension Investment Board Increases Position in Sysco Co. (NYSE:SYY)

Public Sector Pension Investment Board raised its position in shares of Sysco Co. (NYSE:SYY) by 1,543.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,287 shares of the company’s stock after buying an additional 296,100 shares during the period. Public Sector Pension Investment Board’s holdings in Sysco were worth $24,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. iA Global Asset Management Inc. grew its position in Sysco by 72.1% in the 1st quarter. iA Global Asset Management Inc. now owns 33,102 shares of the company’s stock valued at $2,687,000 after acquiring an additional 13,867 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Sysco by 15,811.1% in the first quarter. Plato Investment Management Ltd now owns 10,024 shares of the company’s stock valued at $814,000 after purchasing an additional 9,961 shares in the last quarter. LRI Investments LLC purchased a new stake in Sysco during the 1st quarter worth approximately $48,000. Sanibel Captiva Trust Company Inc. lifted its holdings in Sysco by 46.0% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 17,497 shares of the company’s stock worth $1,420,000 after buying an additional 5,515 shares in the last quarter. Finally, Burney Co. boosted its position in Sysco by 16.5% in the 1st quarter. Burney Co. now owns 22,922 shares of the company’s stock valued at $1,861,000 after buying an additional 3,253 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.3 %

Shares of NYSE SYY opened at $76.65 on Thursday. The business has a 50-day moving average price of $75.70 and a 200 day moving average price of $74.76. The stock has a market cap of $37.65 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. Equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $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. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYY. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target 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.