Healthcare of Ontario Pension Plan Trust Fund Has $7.84 Million Stock Holdings in Sysco Corporation $SYY

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sysco Corporation (NYSE:SYY) by 480.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,893 shares of the company’s stock after buying an additional 90,963 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Sysco were worth $7,839,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SYY. Morningstar Investment Management LLC grew its stake in Sysco by 66.2% in the first quarter. Morningstar Investment Management LLC now owns 5,012 shares of the company’s stock valued at $358,000 after purchasing an additional 1,997 shares in the last quarter. Modern Wealth Management LLC raised its stake in shares of Sysco by 2.0% during the 1st quarter. Modern Wealth Management LLC now owns 9,439 shares of the company’s stock worth $681,000 after purchasing an additional 184 shares in the last quarter. Dickmeyer Boyce Financial Management Inc. acquired a new stake in shares of Sysco during the 1st quarter valued at about $930,000. Sei Investments Co. grew its stake in shares of Sysco by 114.7% in the 1st quarter. Sei Investments Co. now owns 626,554 shares of the company’s stock valued at $44,694,000 after buying an additional 334,663 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Sysco by 46.8% in the 1st quarter. Lido Advisors LLC now owns 21,108 shares of the company’s stock valued at $1,506,000 after buying an additional 6,726 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Citigroup restated a “neutral” rating on shares of Sysco in a research note on Wednesday, July 22nd. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays decreased their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Guggenheim reduced their price target on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.00.

Sysco Trading Up 1.4%

Shares of NYSE:SYY opened at $85.23 on Wednesday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s 50-day moving average is $79.93 and its 200-day moving average is $79.95. The company has a market cap of $40.80 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.31 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. Equities research analysts predict that Sysco Corporation will post 4.59 earnings per share for the current year.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.