Sysco Co. (NYSE:SYY) Shares Acquired by Canoe Financial LP

Canoe Financial LP raised its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 881.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,817 shares of the company's stock after buying an additional 4,326 shares during the period. Canoe Financial LP's holdings in Sysco were worth $368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco in the 3rd quarter worth approximately $137,900,000. Finally, Nordea Investment Management AB raised its stake in shares of Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock worth $208,666,000 after acquiring an additional 933,327 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SYY. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective on the stock. Melius Research raised shares of Sysco to a "hold" rating in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Sysco from a "buy" rating to a "strong-buy" rating in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.93.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company's stock, 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 83,306 shares of company stock valued at $6,485,050 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Down 0.3 %

SYY traded down $0.21 during trading hours on Friday, reaching $73.02. The company's stock had a trading volume of 3,555,637 shares, compared to its average volume of 1,913,882. The stock has a market cap of $35.87 billion, a PE ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The business's 50-day moving average is $76.72 and its 200-day moving average is $75.81.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. Sysco's payout ratio is 52.44%.

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.