Intact Investment Management Inc. Sells 15,600 Shares of Sysco Corporation (NYSE:SYY)

Intact Investment Management Inc. lowered its position in Sysco Corporation (NYSE:SYY - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,000 shares of the company's stock after selling 15,600 shares during the period. Intact Investment Management Inc.'s holdings in Sysco were worth $3,602,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock valued at $4,703,775,000 after buying an additional 429,711 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after purchasing an additional 851,441 shares during the period. Boston Partners lifted its stake in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC raised its position in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after buying an additional 233,885 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after buying an additional 1,928,002 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

NYSE:SYY traded up $1.29 during midday trading on Monday, hitting $75.97. 2,632,091 shares of the stock were exchanged, compared to its average volume of 3,292,724. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.42 and a beta of 0.81. The business has a 50-day moving average price of $72.41 and a two-hundred day moving average price of $73.48. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. Sysco's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.84%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 52.85%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYY shares. BMO Capital Markets cut their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. UBS Group decreased their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.