Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Sysco Co. (NYSE:SYY)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Sysco Co. (NYSE:SYY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 490,000 shares of the company’s stock, valued at approximately $38,249,000.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $85.77.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.3 %

NYSE:SYY opened at $76.65 on Thursday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The stock has a fifty day simple moving average of $75.70 and a 200 day simple moving average of $74.76. The firm has a market capitalization of $37.65 billion, a price-to-earnings 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 (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share. Sell-side 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. Investors 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 of this dividend is Friday, January 3rd. Sysco’s payout ratio is presently 52.44%.

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.