OMERS ADMINISTRATION Corp Acquires 9,053 Shares of Sysco Corporation $SYY

OMERS ADMINISTRATION Corp lifted its stake in Sysco Corporation (NYSE:SYY) by 40.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,648 shares of the company’s stock after acquiring an additional 9,053 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Sysco were worth $2,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Sysco in the 4th quarter valued at $542,780,000. Wellington Management Group LLP lifted its stake in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. grew its position in Sysco by 45.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock worth $416,472,000 after buying an additional 1,754,306 shares in the last quarter. Marshall Wace LLP increased its stake in Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after acquiring an additional 1,194,815 shares during the period. Finally, Suvretta Capital Management LLC bought a new position in Sysco during the fourth quarter valued at about $79,864,000. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SYY shares. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein cut their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Piper Sandler cut their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, UBS Group decreased their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $88.00.

Sysco Stock Up 1.4%

Shares of NYSE SYY opened at $85.23 on Wednesday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The firm’s 50-day simple moving average is $79.93 and its 200 day simple moving average is $79.95. 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 company has a market cap of $40.80 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.64.

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

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.