BankPlus Wealth Management LLC Acquires New Stake in Sysco Co. (NYSE:SYY)

BankPlus Wealth Management LLC bought a new position in Sysco Co. (NYSE:SYY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,870 shares of the company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nilsine Partners LLC grew its holdings in Sysco by 10.0% during the fourth quarter. Nilsine Partners LLC now owns 7,452 shares of the company’s stock worth $570,000 after acquiring an additional 680 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Sysco by 8.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 10,053 shares of the company’s stock worth $769,000 after purchasing an additional 786 shares in the last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of Sysco by 75.4% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 13,457 shares of the company’s stock worth $1,029,000 after purchasing an additional 5,783 shares during the period. Kavar Capital Partners Group LLC increased its holdings in shares of Sysco by 2.6% in the 4th quarter. Kavar Capital Partners Group LLC now owns 26,687 shares of the company’s stock valued at $2,040,000 after purchasing an additional 675 shares in the last quarter. Finally, Webster Bank N. A. lifted its stake in shares of Sysco by 11.5% in the fourth quarter. Webster Bank N. A. now owns 2,912 shares of the company’s stock valued at $223,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 2.7 %

Shares of SYY opened at $76.83 on Tuesday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company’s fifty day moving average is $76.45 and its two-hundred day moving average is $75.99. The firm has a market cap of $37.74 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.66%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 in the last ninety days. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.79.

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.