Sysco Co. (NYSE:SYY) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC grew its holdings in Sysco Co. (NYSE:SYY) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,298 shares of the company’s stock after buying an additional 824 shares during the period. HB Wealth Management LLC’s holdings in Sysco were worth $1,476,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SYY. Renaissance Technologies LLC grew its stake in shares of Sysco by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 160,182 shares of the company’s stock valued at $11,435,000 after purchasing an additional 45,082 shares during the last quarter. Intech Investment Management LLC increased its stake in Sysco by 362.2% in the 2nd quarter. Intech Investment Management LLC now owns 14,244 shares of the company’s stock valued at $1,017,000 after buying an additional 11,162 shares during the period. AE Wealth Management LLC raised its position in Sysco by 19.2% during the 2nd quarter. AE Wealth Management LLC now owns 14,879 shares of the company’s stock worth $1,062,000 after buying an additional 2,399 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Sysco by 20.4% in the 2nd quarter. Pacer Advisors Inc. now owns 79,944 shares of the company’s stock worth $5,707,000 after acquiring an additional 13,525 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Sysco by 1.3% in the second quarter. Sei Investments Co. now owns 460,346 shares of the company’s stock valued at $32,865,000 after acquiring an additional 6,021 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.3 %

Shares of NYSE:SYY opened at $73.02 on Tuesday. The company has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.18. The stock’s fifty day simple moving average is $76.72 and its 200-day simple moving average is $75.85. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. 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 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 for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value 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 trade represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Sysco 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.