Toronto Dominion Bank Buys 80,075 Shares of Sysco Co. (NYSE:SYY)

Toronto Dominion Bank raised its position in Sysco Co. (NYSE:SYY - Free Report) by 43.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 265,924 shares of the company's stock after buying an additional 80,075 shares during the period. Toronto Dominion Bank owned about 0.05% of Sysco worth $20,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new stake in Sysco during the 4th quarter worth about $29,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on SYY shares. Morgan Stanley dropped their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. 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. UBS Group lowered 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, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.38.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of the company's stock in a transaction 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 sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Sysco Trading Up 0.7%

NYSE SYY opened at $72.95 on Tuesday. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock's 50 day moving average price is $71.76 and its two-hundred day moving average price is $74.02. 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 (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 business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal 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 paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. This is an increase 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 (DPR) is currently 55.96%.

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.

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