Bank of Montreal Can Trims Position in Sysco Co. (NYSE:SYY)

Bank of Montreal Can trimmed its position in Sysco Co. (NYSE:SYY - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,436,029 shares of the company's stock after selling 24,511 shares during the period. Bank of Montreal Can owned approximately 0.29% of Sysco worth $109,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock valued at $4,703,775,000 after acquiring an additional 429,711 shares during the period. Boston Partners lifted its stake in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC boosted its holdings in Sysco by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after buying an additional 233,885 shares in the last quarter. FMR LLC grew its position in Sysco by 0.8% during the fourth quarter. FMR LLC now owns 7,590,141 shares of the company's stock valued at $580,342,000 after buying an additional 60,059 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock valued at $551,046,000 after buying an additional 521,431 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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Sysco Price Performance

NYSE:SYY traded up $1.42 during mid-day trading on Monday, reaching $71.85. The stock had a trading volume of 398,570 shares, compared to its average volume of 3,319,779. The stock has a 50-day simple moving average of $72.61 and a two-hundred day simple moving average of $74.74. The stock has a market capitalization of $35.15 billion, a PE ratio of 18.47, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the business earned $0.89 EPS. On average, equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's payout ratio is 52.44%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Guggenheim reaffirmed a "buy" rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, Melius Research raised shares of Sysco to a "hold" rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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.