Philip James Wealth Mangement LLC Raises Position in Sysco Co. (NYSE:SYY)

Philip James Wealth Mangement LLC increased its holdings in Sysco Co. (NYSE:SYY) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,701 shares of the company’s stock after purchasing an additional 558 shares during the period. Philip James Wealth Mangement LLC’s holdings in Sysco were worth $289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Plimoth Trust Co. LLC grew its holdings in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. Koshinski Asset Management Inc. grew its stake in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares during the last quarter. NorthRock Partners LLC increased its position in Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after buying an additional 147 shares during the period. Finally, Powers Advisory Group LLC lifted its stake in Sysco by 1.6% in the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE SYY traded up $0.66 on Friday, reaching $77.53. The company’s stock had a trading volume of 61,221 shares, compared to its average volume of 3,161,764. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm’s 50 day moving average is $76.17 and its two-hundred day moving average is $74.74. The stock has a market cap of $38.09 billion, a PE ratio of 19.76, a PEG ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Bank of America dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. 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 report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $85.77.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

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.