CANADA LIFE ASSURANCE Co Grows Stock Position in Sysco Co. (NYSE:SYY)

CANADA LIFE ASSURANCE Co boosted its position in Sysco Co. (NYSE:SYY - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 781,314 shares of the company's stock after acquiring an additional 147,713 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.16% of Sysco worth $59,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.29 during trading on Monday, reaching $71.45. 2,198,375 shares of the company traded hands, compared to its average volume of 3,335,240. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a 50 day simple moving average of $72.67 and a 200-day simple moving average of $74.53. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The stock has a market capitalization of $34.96 billion, a PE ratio of 18.37, a P/E/G ratio of 1.88 and a beta of 0.91.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

SYY has been the subject of several analyst reports. Guggenheim restated a "buy" rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Barclays lowered their price target on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. UBS Group reduced their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.77.

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.