Sysco Co. (NYSE:SYY) Stake Lifted by Allied Investment Advisors LLC

Allied Investment Advisors LLC raised its stake in Sysco Co. (NYSE:SYY) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 126,310 shares of the company’s stock after buying an additional 2,977 shares during the quarter. Sysco makes up about 1.9% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Allied Investment Advisors LLC’s holdings in Sysco were worth $9,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SYY. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the 3rd quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter valued at approximately $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco during the third quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in Sysco in the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco Price Performance

NYSE SYY opened at $70.10 on Wednesday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The business’s fifty day moving average is $74.46 and its two-hundred day moving average is $75.75. The stock has a market capitalization of $34.30 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 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 prior year, the business earned $0.89 earnings per share. On average, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the 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 sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock worth $5,965,519 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

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.