Cornerstone Wealth Management LLC Has $702,000 Stock Position in Sysco Co. (NYSE:SYY)

Cornerstone Wealth Management LLC cut its holdings in Sysco Co. (NYSE:SYY) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,187 shares of the company’s stock after selling 353 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Sysco were worth $702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Pension Service boosted its stake in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares in the last quarter. New England Asset Management Inc. grew its stake in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after buying an additional 14,810 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after buying an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.79.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.5 %

Shares of Sysco stock opened at $74.81 on Friday. The firm has a market cap of $36.75 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.04 and a beta of 1.18. The stock’s 50-day moving average is $76.45 and its 200 day moving average is $75.90. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY) last posted 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 return on equity of 101.04% and a net margin of 2.44%. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.