Cibc World Markets Corp Increases Stake in Sysco Co. (NYSE:SYY)

Cibc World Markets Corp lifted its position in Sysco Co. (NYSE:SYY - Free Report) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 192,737 shares of the company's stock after purchasing an additional 24,785 shares during the period. Cibc World Markets Corp's holdings in Sysco were worth $14,737,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter worth $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the fourth quarter worth about $31,000. SRS Capital Advisors Inc. increased its holdings in Sysco by 53.0% during 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 during the period. HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after buying an additional 321 shares during the period. Finally, Hager Investment Management Services LLC purchased a new position in Sysco during the 4th quarter valued at $50,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company's stock.

Remove Ads

Sysco Stock Down 0.1 %

Shares of NYSE SYY traded down $0.08 during midday trading on Friday, hitting $71.12. The stock had a trading volume of 4,897,434 shares, compared to its average volume of 3,761,108. The company has a market cap of $34.79 billion, a P/E ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. 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 business's 50 day moving average is $73.15 and its 200-day moving average is $75.41. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 period last year, the business posted $0.89 earnings per share. As a group, analysts predict 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SYY shares. UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective on the stock. Melius Research raised Sysco to a "hold" rating in a research report on Wednesday, December 18th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Finally, Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.