CWA Asset Management Group LLC Sells 1,496 Shares of Sysco Co. (NYSE:SYY)

CWA Asset Management Group LLC cut its stake in shares of Sysco Co. (NYSE:SYY) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 42,257 shares of the company’s stock after selling 1,496 shares during the period. CWA Asset Management Group LLC’s holdings in Sysco were worth $3,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Armstrong Advisory Group Inc. lifted its holdings in 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 during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the third quarter worth $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the third quarter worth $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.9 %

Shares of NYSE SYY opened at $74.76 on Tuesday. The firm has a 50 day moving average price of $77.03 and a 200 day moving average price of $75.73. 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 stock has a market cap of $36.72 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.10 and a beta of 1.18. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SYY shares. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the 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 owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

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.