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

Healthcare of Ontario Pension Plan Trust Fund grew its position in Sysco Corporation (NYSE:SYY) by 480.5% in the first quarter, Holdings Channel.com reports. The fund owned 109,893 shares of the company’s stock after buying an additional 90,963 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Sysco were worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock valued at $27,307,000 after acquiring an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock worth $30,445,000 after acquiring an additional 35,647 shares during the last quarter. Nicholas Company Inc. acquired a new stake in Sysco during the 4th quarter valued at $2,278,000. Norges Bank bought a new position in Sysco in the 4th quarter valued at $542,780,000. Finally, Banque Cantonale Vaudoise boosted its stake in Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after purchasing an additional 12,641 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of SYY stock opened at $85.23 on Wednesday. The firm has a market cap of $40.80 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.31 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock has a 50-day moving average price of $79.93 and a 200 day moving average price of $79.95.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Sanford C. Bernstein cut their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Citigroup reiterated a “neutral” rating on shares of Sysco in a research report on Wednesday, July 22nd. Guggenheim lowered their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Barclays dropped their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Sysco 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.