Accredited Wealth Management LLC Invests $109,000 in Sysco Co. (NYSE:SYY)

Accredited Wealth Management LLC purchased a new stake in Sysco Co. (NYSE:SYY) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,421 shares of the company’s stock, valued at approximately $109,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Barclays PLC increased its holdings in shares of Sysco by 43.2% in the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock valued at $133,902,000 after purchasing an additional 517,219 shares in the last quarter. World Investment Advisors LLC purchased a new position in Sysco in the third quarter valued at about $610,000. Tidal Investments LLC lifted its position in shares of Sysco by 51.3% during the 3rd quarter. Tidal Investments LLC now owns 37,030 shares of the company’s stock valued at $2,891,000 after acquiring an additional 12,550 shares during the period. Synovus Financial Corp boosted its stake in shares of Sysco by 14.7% during the 3rd quarter. Synovus Financial Corp now owns 4,238 shares of the company’s stock worth $331,000 after acquiring an additional 543 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Sysco by 14.7% in the 3rd quarter. Franklin Resources Inc. now owns 572,158 shares of the company’s stock worth $43,038,000 after acquiring an additional 73,306 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $70.74 on Friday. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The stock’s fifty day simple moving average is $72.59 and its 200-day simple moving average is $74.29.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the company earned $0.96 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. This is a boost from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is presently 55.96%.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Sysco 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.