Canada Pension Plan Investment Board Cuts Stake in Sysco Co. (NYSE:SYY)

Canada Pension Plan Investment Board trimmed its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 31.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,028,048 shares of the company's stock after selling 466,371 shares during the quarter. Canada Pension Plan Investment Board owned about 0.21% of Sysco worth $78,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortem Financial Group LLC grew its holdings in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after purchasing an additional 136 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank raised its holdings in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares during the period. Nemes Rush Group LLC increased its position in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SYY shares. Barclays boosted their target price on shares of Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a "buy" rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.92.

Sysco Stock Down 1.3 %

Shares of SYY traded down $0.92 on Wednesday, hitting $72.37. The company's stock had a trading volume of 1,599,819 shares, compared to its average volume of 3,331,979. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.88 and a beta of 0.91. The firm's fifty day moving average price is $72.72 and its 200-day moving average price is $74.49.

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, meeting 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 period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.82%. Sysco's dividend payout ratio is currently 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.