OMERS ADMINISTRATION Corp Sells 7,221 Shares of Sysco Co. (NYSE:SYY)

OMERS ADMINISTRATION Corp decreased its position in Sysco Co. (NYSE:SYY - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,034 shares of the company's stock after selling 7,221 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Sysco were worth $2,832,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Boston Partners increased its holdings in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank bought a new stake in Sysco during the 4th quarter worth approximately $450,441,000. Capital Research Global Investors increased its holdings in Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in Sysco in the 4th quarter valued at $123,928,000. Finally, Raymond James Financial Inc. bought a new position in Sysco in the 4th quarter valued at $97,078,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Trading Down 0.0%

SYY traded down $0.01 during trading on Friday, reaching $72.34. 3,218,817 shares of the company's stock were exchanged, compared to its average volume of 3,367,768. The company's fifty day moving average price is $71.78 and its 200-day moving average price is $74.04. The firm has a market capitalization of $35.07 billion, a PE ratio of 18.60, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two 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.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The company 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 firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Morgan Stanley lowered their price objective 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. Barclays reduced their target price on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Finally, Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.38.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the business's 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 completion of the transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

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.