Sargent Investment Group LLC Acquires Shares of 5,678 Sysco Co. (NYSE:SYY)

Sargent Investment Group LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,678 shares of the company’s stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised 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 valued at $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the third quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the third quarter worth approximately $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco in the third quarter worth approximately $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYY has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Stock Down 0.0 %

Shares of NYSE SYY opened at $71.38 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $34.92 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The stock’s fifty day simple moving average is $76.11 and its two-hundred day simple moving average is $75.99. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

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

Sysco Announces Dividend

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

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value 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 $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock valued at $6,181,946 in the last quarter. 0.54% of the stock is currently 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.