CIBC Asset Management Inc Acquires 5,722 Shares of Sysco Co. (NYSE:SYY)

CIBC Asset Management Inc boosted its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,472 shares of the company's stock after purchasing an additional 5,722 shares during the quarter. CIBC Asset Management Inc's holdings in Sysco were worth $6,765,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter valued at $31,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc purchased a new position in Sysco in the third quarter valued at about $37,000. Finally, Canoe Financial LP purchased a new position in Sysco in the third quarter valued at about $38,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company's stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company's stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 in the last quarter. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SYY shares. Guggenheim reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $84.38.

Sysco Trading Up 2.9 %

Shares of NYSE:SYY traded up $2.06 during midday trading on Friday, hitting $73.28. The company had a trading volume of 2,247,262 shares, compared to its average volume of 3,666,913. The stock has a market cap of $35.85 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.87 and a beta of 1.17. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a fifty day simple moving average of $74.10 and a 200 day simple moving average of $75.69.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 business earned $0.89 EPS. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current year.

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.