Strategic Investment Advisors MI Sells 842 Shares of Sysco Co. (NYSE:SYY)

Strategic Investment Advisors MI reduced its stake in shares of Sysco Co. (NYSE:SYYFree Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,195 shares of the company’s stock after selling 842 shares during the quarter. Strategic Investment Advisors MI’s holdings in Sysco were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. Olstein Capital Management L.P. acquired a new stake in shares of Sysco in the 4th quarter valued at $4,435,000. Toth Financial Advisory Corp boosted its holdings in Sysco by 1.3% in the fourth quarter. Toth Financial Advisory Corp now owns 137,512 shares of the company’s stock valued at $10,514,000 after acquiring an additional 1,804 shares during the last quarter. Fifth Third Bancorp increased its position in Sysco by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 267,950 shares of the company’s stock worth $20,487,000 after purchasing an additional 1,150 shares during the period. Gradient Investments LLC lifted its position in Sysco by 2.4% during the 4th quarter. Gradient Investments LLC now owns 175,980 shares of the company’s stock valued at $13,455,000 after purchasing an additional 4,080 shares during the period. Finally, Curated Wealth Partners LLC boosted its stake in shares of Sysco by 7.8% in the 4th quarter. Curated Wealth Partners LLC now owns 16,060 shares of the company’s stock valued at $1,228,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 in the last quarter. 0.54% of the stock is currently owned by insiders.

Sysco Trading Up 2.7 %

Shares of NYSE:SYY opened at $76.83 on Tuesday. The firm has a market cap of $37.74 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.04 and a beta of 1.18. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company’s fifty day simple moving average is $76.45 and its 200 day simple moving average is $75.99. 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:SYYGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during 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 business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. As a group, research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced 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 2.66%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYY. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.79.

View Our Latest Analysis on SYY

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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