National Bank of Canada FI Acquires 98,077 Shares of Sysco Co. (NYSE:SYY)

National Bank of Canada FI raised its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 48.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,544 shares of the company's stock after purchasing an additional 98,077 shares during the period. National Bank of Canada FI owned 0.06% of Sysco worth $23,460,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYY. State Street Corp lifted its stake 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 buying an additional 2,721,449 shares during the period. ProShare Advisors LLC boosted its stake in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Sysco during the third quarter worth approximately $137,900,000. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SYY. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.77.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares of the company's stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,279 shares of company stock valued at $2,786,971. 0.54% of the stock is owned by company insiders.

Sysco Stock Down 0.3 %

Shares of Sysco stock traded down $0.25 during trading on Tuesday, reaching $80.82. The stock had a trading volume of 3,695,523 shares, compared to its average volume of 3,166,851. The stock has a fifty day moving average price of $76.12 and a two-hundred day moving average price of $74.99. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a market capitalization of $39.70 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is presently 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.