Insight Wealth Strategies LLC Has $4.60 Million Stake in Sysco Co. (NYSE:SYY)

Insight Wealth Strategies LLC reduced its holdings in Sysco Co. (NYSE:SYY) by 27.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,103 shares of the company’s stock after selling 22,323 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Sysco were worth $4,595,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. ProShare Advisors LLC grew its holdings in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares during the period. Ameriprise Financial Inc. raised its stake in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in Sysco in the third quarter valued at about $137,900,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock worth $6,485,050 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 0.5 %

SYY stock traded down $0.38 during mid-day trading on Monday, reaching $75.05. The company had a trading volume of 822,698 shares, compared to its average volume of 1,385,944. The company has a market capitalization of $36.87 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.10 and a beta of 1.18. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The stock has a 50 day simple moving average of $77.04 and a two-hundred day simple moving average of $75.72. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYY. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.93.

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.