Sysco Co. (NYSE:SYY) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 77.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,680 shares of the company’s stock after purchasing an additional 19,050 shares during the period. iA Global Asset Management Inc.’s holdings in Sysco were worth $3,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fortem Financial Group LLC boosted its stake in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after buying an additional 136 shares during the last quarter. Morton Community Bank lifted its holdings in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. S.A. Mason LLC boosted its position in Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Finally, HM Payson & Co. grew its stake in shares of Sysco by 0.8% during the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock worth $1,465,000 after purchasing an additional 150 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY opened at $71.12 on Friday. 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 1 year low of $69.03 and a 1 year high of $82.33. The firm has a market capitalization of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The business’s 50 day moving average price is $73.15 and its 200-day moving average price is $75.41.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.87%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYY shares. Wells Fargo & Company increased their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % 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 link. 0.54% of the stock is owned by insiders.

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.