iA Global Asset Management Inc. Buys 19,050 Shares of Sysco Co. (NYSE:SYY)

iA Global Asset Management Inc. increased its stake in Sysco Co. (NYSE:SYY) by 77.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,680 shares of the company’s stock after buying 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 SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in shares of Sysco by 6.6% during the fourth quarter. Teacher Retirement System of Texas now owns 847,018 shares of the company’s stock valued at $64,763,000 after acquiring an additional 52,464 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Sysco by 2.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 301,681 shares of the company’s stock valued at $23,067,000 after purchasing an additional 7,198 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in Sysco by 1,561.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,293 shares of the company’s stock valued at $175,000 after purchasing an additional 2,155 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Sysco by 26.1% in the 4th quarter. Vinva Investment Management Ltd now owns 29,181 shares of the company’s stock worth $2,228,000 after buying an additional 6,048 shares during the period. Finally, West Tower Group LLC grew its position in shares of Sysco by 71.4% during the 4th quarter. West Tower Group LLC now owns 6,000 shares of the company’s stock worth $459,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.8 %

Sysco stock opened at $71.12 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market cap of $34.79 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock has a 50-day moving average of $73.15 and a two-hundred day moving average of $75.41. Sysco Co. has a one year low of $69.03 and a one year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 period last year, the company posted $0.89 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on SYY shares. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.77.

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.