Sysco Co. (NYSE:SYY) Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners decreased its stake in Sysco Co. (NYSE:SYY) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,659 shares of the company’s stock after selling 1,074 shares during the period. Coston McIsaac & Partners’ holdings in Sysco were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. DMC Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $205,000. Sumitomo Life Insurance Co. boosted its position in Sysco by 24.6% during the fourth quarter. Sumitomo Life Insurance Co. now owns 93,297 shares of the company’s stock worth $7,133,000 after purchasing an additional 18,435 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in Sysco by 67.2% in the fourth quarter. Stonegate Investment Group LLC now owns 4,723 shares of the company’s stock valued at $361,000 after purchasing an additional 1,899 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Sysco by 10.1% during the 4th quarter. Perigon Wealth Management LLC now owns 7,320 shares of the company’s stock worth $536,000 after buying an additional 672 shares during the last quarter. Finally, BankPlus Wealth Management LLC acquired a new position in shares of Sysco during the 4th quarter worth $296,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYY. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.21.

Sysco Stock Performance

SYY stock opened at $71.96 on Thursday. The firm has a market cap of $35.35 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.04 and a beta of 1.18. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The stock’s 50 day simple moving average is $76.43 and its 200 day simple moving average is $76.03. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period in the previous year, the firm posted $0.89 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders 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 2.83%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by corporate insiders.

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.