Bank of Montreal Can Sells 26,596 Shares of Sysco Co. (NYSE:SYY)

Bank of Montreal Can cut its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,460,540 shares of the company's stock after selling 26,596 shares during the quarter. Bank of Montreal Can owned 0.30% of Sysco worth $113,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service increased its holdings in Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company's stock valued at $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. increased its stake in Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company's stock valued at $10,254,000 after acquiring an additional 14,810 shares during the last quarter. ORG Partners LLC raised its position in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company's stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. Empowered Funds LLC lifted its stake in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company's stock worth $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company's stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the 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 completion of the sale, the senior vice president now directly owns 48,451 shares of the company's stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Sysco Trading Up 0.8 %

NYSE SYY traded up $0.59 during trading hours on Wednesday, hitting $76.98. 37,395 shares of the company's stock were exchanged, compared to its average volume of 3,134,035. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a 50-day simple moving average of $75.65 and a 200 day simple moving average of $74.75. The firm has a market cap of $37.81 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.02 and a beta of 1.20.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco's payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SYY shares. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.77.

Sysco Company 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.