Strategic Investment Advisors MI Has $550,000 Position in Sysco Co. (NYSE:SYY)

Strategic Investment Advisors MI cut its position in shares of Sysco Co. (NYSE:SYY) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,195 shares of the company’s stock after selling 842 shares during the period. Strategic Investment Advisors MI’s holdings in Sysco were worth $550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Sysco during the 3rd quarter valued at $31,000. Focused Wealth Management Inc bought a new position in Sysco during the third quarter worth $37,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco in the third quarter valued at $38,000. 83.41% of the stock is owned by institutional investors.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,306 shares of company stock valued at $6,485,050. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley dropped their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.79.

Sysco Trading Up 2.7 %

Shares of Sysco stock opened at $76.83 on Tuesday. The firm’s 50-day moving average price is $76.45 and its two-hundred day moving average price is $75.99. The company has a market capitalization of $37.74 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.66%. Sysco’s payout ratio is 52.44%.

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.