SYSCO Co. (SYY) Shares Bought by Scotia Capital Inc.

Scotia Capital Inc. boosted its stake in shares of SYSCO Co. (NYSE:SYY) by 1.6% in the 4th quarter, HoldingsChannel reports. The fund owned 46,397 shares of the company’s stock after buying an additional 713 shares during the period. Scotia Capital Inc.’s holdings in SYSCO were worth $2,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYY. Oregon Public Employees Retirement Fund grew its stake in SYSCO by 18,997.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after acquiring an additional 9,908,653 shares in the last quarter. Vanguard Group Inc grew its stake in SYSCO by 3.9% during the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after acquiring an additional 1,549,255 shares in the last quarter. Vanguard Group Inc. grew its stake in SYSCO by 3.9% during the third quarter. Vanguard Group Inc. now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after acquiring an additional 1,549,255 shares in the last quarter. Renaissance Technologies LLC grew its stake in SYSCO by 342.2% during the third quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after acquiring an additional 1,530,318 shares in the last quarter. Finally, BlackRock Inc. grew its stake in SYSCO by 4.7% during the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after acquiring an additional 1,502,847 shares in the last quarter. 80.23% of the stock is owned by institutional investors.

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Several equities analysts recently weighed in on SYY shares. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Zacks Investment Research raised shares of SYSCO from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Citigroup cut their target price on shares of SYSCO from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, November 13th. Pivotal Research reaffirmed a “sell” rating and set a $54.00 target price on shares of SYSCO in a research note on Friday, February 1st. Finally, Royal Bank of Canada cut their target price on shares of SYSCO from $67.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. SYSCO presently has an average rating of “Hold” and an average price target of $72.92.

SYY stock opened at $67.58 on Friday. SYSCO Co. has a 52 week low of $58.12 and a 52 week high of $75.98. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.25 and a quick ratio of 0.76. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 4th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The business had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.75 billion. During the same quarter last year, the business earned $0.78 earnings per share. SYSCO’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that SYSCO Co. will post 3.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 2.31%. SYSCO’s dividend payout ratio (DPR) is currently 49.68%.

In other news, EVP Robert S. Charlton sold 22,321 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $65.83, for a total value of $1,469,391.43. Following the completion of the sale, the executive vice president now owns 61,460 shares in the company, valued at approximately $4,045,911.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell T. Libby sold 60,156 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $63.40, for a total transaction of $3,813,890.40. Following the completion of the sale, the insider now owns 62,597 shares of the company’s stock, valued at approximately $3,968,649.80. The disclosure for this sale can be found here. 7.88% of the stock is owned by company insiders.

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About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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