Cibc World Markets Corp Has $14.74 Million Holdings in Sysco Co. (NYSE:SYY)

Cibc World Markets Corp boosted its holdings in Sysco Co. (NYSE:SYY) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,737 shares of the company’s stock after purchasing an additional 24,785 shares during the quarter. Cibc World Markets Corp’s holdings in Sysco were worth $14,737,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. HHM Wealth Advisors LLC grew its stake in Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new position in Sysco in the 4th quarter valued at about $50,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley decreased their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

NYSE SYY opened at $74.78 on Tuesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a fifty day moving average price of $73.28 and a 200-day moving average price of $75.49. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm has a market cap of $36.58 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 company posted $0.89 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.