Money Concepts Capital Corp Raises Position in Sysco Co. (NYSE:SYY)

Money Concepts Capital Corp lifted its position in shares of Sysco Co. (NYSE:SYY) by 2.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 36,455 shares of the company’s stock after buying an additional 992 shares during the quarter. Money Concepts Capital Corp’s holdings in Sysco were worth $2,787,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. increased its holdings in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the 3rd quarter worth about $31,000. Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter valued at about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Down 1.2 %

SYY opened at $71.42 on Wednesday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a 50-day simple moving average of $76.11 and a two-hundred day simple moving average of $75.99. The company has a market capitalization of $34.94 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYY. Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $84.38.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated 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 directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.