Perigon Wealth Management LLC Purchases 1,612 Shares of Sysco Co. (NYSE:SYY)

Perigon Wealth Management LLC lifted its position in shares of Sysco Co. (NYSE:SYY) by 36.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,042 shares of the company’s stock after purchasing an additional 1,612 shares during the period. Perigon Wealth Management LLC’s holdings in Sysco were worth $442,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its stake in shares of Sysco by 29.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 5,532 shares of the company’s stock valued at $405,000 after purchasing an additional 1,263 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of Sysco during the 4th quarter worth approximately $825,000. Cerity Partners LLC raised its position in shares of Sysco by 8.2% in the 4th quarter. Cerity Partners LLC now owns 175,938 shares of the company’s stock worth $12,867,000 after acquiring an additional 13,372 shares in the last quarter. Priebe Wealth Holdings LLC purchased a new position in shares of Sysco in the 4th quarter valued at approximately $536,000. Finally, Financial Counselors Inc. grew its stake in Sysco by 2.7% in the fourth quarter. Financial Counselors Inc. now owns 17,036 shares of the company’s stock worth $1,246,000 after purchasing an additional 444 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.5 %

Sysco stock opened at $75.65 on Tuesday. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.53 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a fifty day simple moving average of $79.69 and a two-hundred day simple moving average of $74.15.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. Sysco’s revenue was up 3.7% on a year-over-year basis. Equities analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.64%. Sysco’s dividend payout ratio is presently 48.90%.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Barclays upped their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Stephens lifted their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

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.