Investment Management Corp of Ontario Increases Holdings in Sysco Co. (NYSE:SYY)

Investment Management Corp of Ontario raised its holdings in shares of Sysco Co. (NYSE:SYY) by 49.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,547 shares of the company’s stock after acquiring an additional 5,500 shares during the quarter. Investment Management Corp of Ontario’s holdings in Sysco were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Sysco during the second quarter valued at about $25,000. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter worth approximately $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco in the third quarter worth $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 1.8 %

SYY stock opened at $81.78 on Friday. 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 12-month low of $69.03 and a 12-month high of $82.89. The company has a 50 day moving average of $76.00 and a two-hundred day moving average of $74.89. The company has a market cap of $40.17 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.09 and a beta of 1.19.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock valued at $2,786,971 in the last three months. Company insiders own 0.54% of the company’s stock.

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.