Insight Wealth Strategies LLC Has $4.60 Million Stake in Sysco Co. (NYSE:SYY)

Insight Wealth Strategies LLC lowered its position in Sysco Co. (NYSE:SYY) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,103 shares of the company’s stock after selling 22,323 shares during the period. Insight Wealth Strategies LLC’s holdings in Sysco were worth $4,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco during the third quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc bought a new stake in shares of Sysco during the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC acquired a new position in shares of Sysco during the 2nd quarter valued at about $38,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Melius initiated coverage on 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 decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. increased 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, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.93.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction 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. This represents a 46.03 % 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, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,306 shares of company stock valued at $6,485,050. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock traded down $0.38 during trading on Monday, hitting $75.05. 822,698 shares of the company’s stock traded hands, compared to its average volume of 1,385,944. The company has a market cap of $36.87 billion, a PE ratio of 19.29, a PEG ratio of 2.10 and a beta of 1.18. 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 twelve month low of $69.03 and a twelve month high of $82.89. The firm’s fifty day moving average price is $77.04 and its 200 day moving average price is $75.72.

Sysco (NYSE:SYY) last issued its 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s dividend payout ratio is 52.44%.

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.