CANADA LIFE ASSURANCE Co Boosts Position in Sysco Co. (NYSE:SYY)

CANADA LIFE ASSURANCE Co raised its stake in Sysco Co. (NYSE:SYY) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 781,314 shares of the company’s stock after purchasing an additional 147,713 shares during the period. CANADA LIFE ASSURANCE Co owned 0.16% of Sysco worth $59,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in Sysco during the 4th quarter worth $2,021,000. NFJ Investment Group LLC increased its position in shares of Sysco by 13.3% during the fourth quarter. NFJ Investment Group LLC now owns 38,172 shares of the company’s stock worth $2,919,000 after purchasing an additional 4,493 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Sysco by 2.8% in the 4th quarter. Regal Investment Advisors LLC now owns 21,980 shares of the company’s stock valued at $1,681,000 after purchasing an additional 605 shares during the period. Jump Financial LLC grew its stake in Sysco by 3.4% during the 4th quarter. Jump Financial LLC now owns 12,413 shares of the company’s stock worth $949,000 after buying an additional 403 shares during the last quarter. Finally, Adams Wealth Management lifted its stake in Sysco by 16.3% in the fourth quarter. Adams Wealth Management now owns 34,380 shares of the company’s stock valued at $2,629,000 after buying an additional 4,809 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.71 on Friday. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The business’s 50 day simple moving average is $72.64 and its 200-day simple moving average is $74.60. 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 (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

SYY has been the topic of a number of research reports. UBS Group lowered their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $84.77.

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.