Bank of Montreal Can Has $53.02 Million Position in Sysco Co. (NYSE:SYY)

Bank of Montreal Can cut its holdings in shares of Sysco Co. (NYSE:SYYGet Rating) by 34.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 676,047 shares of the company’s stock after selling 355,798 shares during the quarter. Bank of Montreal Can owned about 0.13% of Sysco worth $53,016,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parnassus Investments LLC acquired a new position in Sysco in the 3rd quarter valued at $126,958,000. Lazard Asset Management LLC grew its holdings in Sysco by 8.4% in the 4th quarter. Lazard Asset Management LLC now owns 13,020,585 shares of the company’s stock valued at $1,022,765,000 after buying an additional 1,009,837 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Sysco in the 4th quarter valued at $74,540,000. American Century Companies Inc. grew its holdings in Sysco by 9.3% in the 4th quarter. American Century Companies Inc. now owns 6,622,309 shares of the company’s stock valued at $520,183,000 after buying an additional 562,270 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Sysco by 94.1% during the 3rd quarter. Renaissance Technologies LLC now owns 1,151,900 shares of the company’s stock worth $90,424,000 after purchasing an additional 558,400 shares in the last quarter. 80.64% of the stock is currently owned by institutional investors and hedge funds.

In related news, CAO Anita A. Zielinski sold 12,362 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $89.00, for a total transaction of $1,100,218.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Hourican sold 75,018 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $86.00, for a total value of $6,451,548.00. Following the sale, the chief executive officer now directly owns 88,477 shares of the company’s stock, valued at approximately $7,609,022. The disclosure for this sale can be found here. Insiders have sold 138,680 shares of company stock valued at $12,154,776 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on SYY. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, February 22nd. Credit Suisse Group increased their target price on Sysco from $97.00 to $107.00 in a report on Wednesday, May 11th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 11th. CL King began coverage on Sysco in a research report on Friday, March 11th. They set a “neutral” rating for the company. Finally, Piper Sandler upped their price objective on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 8th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Buy” and a consensus target price of $92.89.

Sysco stock opened at $76.98 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 8.03. The company has a market capitalization of $39.22 billion, a PE ratio of 39.68, a P/E/G ratio of 2.23 and a beta of 1.14. Sysco Co. has a 12 month low of $68.05 and a 12 month high of $91.53. The stock has a 50-day moving average price of $83.83 and a two-hundred day moving average price of $80.22.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The company had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $15.99 billion. During the same period last year, the company earned $0.22 earnings per share. The firm’s revenue was up 42.9% compared to the same quarter last year. As a group, analysts predict that Sysco Co. will post 3.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 1st will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Sysco’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, June 30th. Sysco’s dividend payout ratio (DPR) is 96.91%.

Sysco Company Profile (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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