Canada Pension Plan Investment Board Sells 137,090 Shares of Sysco Co. (NYSE:SYY)

Canada Pension Plan Investment Board trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 12.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 996,314 shares of the company’s stock after selling 137,090 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Sysco worth $71,127,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its position in shares of Sysco by 2.9% during the second quarter. Benjamin Edwards Inc. now owns 7,159 shares of the company’s stock worth $511,000 after buying an additional 202 shares during the period. Intech Investment Management LLC boosted its position in Sysco by 362.2% during the 2nd quarter. Intech Investment Management LLC now owns 14,244 shares of the company’s stock worth $1,017,000 after acquiring an additional 11,162 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Sysco during the 2nd quarter worth approximately $1,402,000. Hsbc Holdings PLC raised its holdings in shares of Sysco by 25.0% in the second quarter. Hsbc Holdings PLC now owns 1,178,231 shares of the company’s stock valued at $84,233,000 after purchasing an additional 235,645 shares during the last quarter. Finally, O Brien Greene & Co. Inc lifted its position in shares of Sysco by 2.8% in the second quarter. O Brien Greene & Co. Inc now owns 12,853 shares of the company’s stock worth $918,000 after purchasing an additional 348 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 1.4 %

Sysco stock opened at $75.19 on Friday. The company’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $75.57. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The stock has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.34 EPS. As a group, analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Analyst Ratings Changes

Several brokerages have issued reports on SYY. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.55.

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.