Royal Bank of Canada Has $109.71 Million Stake in Sysco Co. (NYSE:SYY)

Royal Bank of Canada grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,434,792 shares of the company's stock after acquiring an additional 452,531 shares during the quarter. Royal Bank of Canada owned 0.29% of Sysco worth $109,705,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in shares of Sysco during the fourth quarter worth about $29,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the fourth quarter worth about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter worth about $31,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company's stock.

Sysco Price Performance

Sysco stock opened at $72.95 on Tuesday. The stock has a market capitalization of $35.36 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The stock's 50 day moving average price is $71.76 and its two-hundred day moving average price is $74.02. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business 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 106.30% and a net margin of 2.40%. Sysco's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm 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 dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio is presently 55.96%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group reduced their price target on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets reduced their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Barclays reduced their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.38.

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.

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