National Bank of Canada FI Has $22.67 Million Stock Holdings in Sysco Co. (NYSE:SYY)

National Bank of Canada FI decreased its position in Sysco Co. (NYSE:SYY) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,615 shares of the company’s stock after selling 149,408 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of Sysco worth $22,669,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FourThought Financial Partners LLC bought a new stake in Sysco during the fourth quarter valued at about $262,000. TCG Advisory Services LLC boosted its stake in Sysco by 4.2% during the 4th quarter. TCG Advisory Services LLC now owns 9,395 shares of the company’s stock valued at $687,000 after purchasing an additional 380 shares during the period. Charles Carroll Financial Partners LLC acquired a new stake in Sysco in the 4th quarter valued at approximately $201,000. VeraBank N.A. bought a new position in Sysco in the 4th quarter worth approximately $204,000. Finally, WESCAP Management Group Inc. acquired a new position in shares of Sysco during the fourth quarter worth approximately $931,000. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

SYY opened at $75.48 on Tuesday. The company has a fifty day moving average price of $78.55 and a two-hundred day moving average price of $75.38. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The firm has a market capitalization of $37.59 billion, a PE ratio of 18.41, a P/E/G ratio of 1.92 and a beta of 1.16. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s payout ratio is 48.78%.

Insider Transactions at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Stephens upped their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.56.

Sysco 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.