Focused Wealth Management Inc Buys New Position in Sysco Co. (NYSE:SYY)

Focused Wealth Management Inc bought a new stake in Sysco Co. (NYSE:SYY) during the 3rd quarter, Holdings Channel.com reports. The firm bought 475 shares of the company’s stock, valued at approximately $37,000.

Other institutional investors have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its stake in Sysco by 7.8% in the third quarter. Pittenger & Anderson Inc. now owns 4,211 shares of the company’s stock valued at $329,000 after buying an additional 305 shares during the period. Moloney Securities Asset Management LLC raised its position in shares of Sysco by 4.1% during the third quarter. Moloney Securities Asset Management LLC now owns 14,482 shares of the company’s stock worth $1,130,000 after purchasing an additional 564 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Sysco during the third quarter worth approximately $75,000. Asset Management One Co. Ltd. raised its position in shares of Sysco by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 189,653 shares of the company’s stock worth $14,804,000 after purchasing an additional 3,889 shares during the period. Finally, National Pension Service raised its position in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 1.3 %

SYY opened at $76.35 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business has a 50 day moving average of $76.16 and a 200-day moving average of $74.72. Sysco Co. has a 52 week low of $66.27 and a 52 week high of $82.89. The stock has a market cap of $37.51 billion, a PE ratio of 19.63, a PEG ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly 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). 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%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. Equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.77.

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.