Cornerstone Wealth Management LLC Lowers Position in Sysco Co. (NYSE:SYY)

Cornerstone Wealth Management LLC decreased its stake in shares of Sysco Co. (NYSE:SYY) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,187 shares of the company’s stock after selling 353 shares during the period. Cornerstone Wealth Management LLC’s holdings in Sysco were worth $702,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fortem Financial Group LLC raised its position in shares of Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after buying an additional 136 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares in the last quarter. Cable Hill Partners LLC raised its position in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Sysco by 12.3% in the 4th quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after purchasing an additional 154 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its position in shares of Sysco by 1.1% during the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock valued at $1,217,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Finally, Morgan Stanley reduced their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.79.

Sysco Trading Up 1.5 %

SYY opened at $74.81 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50 day simple moving average of $76.45 and a two-hundred day simple moving average of $75.90. The firm has a market capitalization of $36.75 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.04 and a beta of 1.18.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

About Sysco

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.