Caisse DE Depot ET Placement DU Quebec Buys Shares of 76,368 Sysco Co. (NYSE:SYY)

Caisse DE Depot ET Placement DU Quebec purchased a new position in Sysco Co. (NYSE:SYY) in the third quarter, HoldingsChannel.com reports. The fund purchased 76,368 shares of the company’s stock, valued at approximately $5,961,000.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $26,000. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Sysco in the 3rd quarter worth approximately $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco in the 3rd quarter valued at $37,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Sysco Stock Down 1.1 %

Shares of NYSE SYY opened at $76.26 on Tuesday. The stock has a fifty day moving average price of $75.78 and a 200 day moving average price of $74.77. 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 Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a market cap of $37.46 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 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 analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

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

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.