CIBC Asset Management Inc Has $6.77 Million Holdings in Sysco Co. (NYSE:SYY)

CIBC Asset Management Inc boosted its position in shares of Sysco Co. (NYSE:SYY) by 6.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 88,472 shares of the company’s stock after purchasing an additional 5,722 shares during the period. CIBC Asset Management Inc’s holdings in Sysco were worth $6,765,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB increased its stake in Sysco by 185.5% in the third quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after acquiring an additional 20,356 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Sysco by 19.4% in the 3rd quarter. Whittier Trust Co. now owns 10,191 shares of the company’s stock valued at $796,000 after purchasing an additional 1,659 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Sysco by 9.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,265 shares of the company’s stock worth $333,000 after buying an additional 357 shares in the last quarter. Ledyard National Bank bought a new stake in shares of Sysco during the 3rd quarter worth $223,000. Finally, Foundations Investment Advisors LLC boosted its stake in Sysco by 39.4% in the third quarter. Foundations Investment Advisors LLC now owns 9,267 shares of the company’s stock valued at $723,000 after buying an additional 2,621 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,370 shares of company stock worth $5,965,519. Company insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $70.68 on Thursday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The business’s 50 day simple moving average is $74.27 and its 200 day simple moving average is $75.72. The stock has a market capitalization of $34.58 billion, a PE ratio of 18.17, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.38.

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.