Avior Wealth Management LLC Reduces Stake in Sysco Co. (NYSE:SYY)

Avior Wealth Management LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 34.3% during the fourth quarter, Holdings Channel reports. The fund owned 912 shares of the company’s stock after selling 476 shares during the period. Avior Wealth Management LLC’s holdings in Sysco were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the 3rd quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco during the 3rd quarter valued at approximately $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter valued at approximately $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Melius initiated 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. Finally, Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.21.

Insider Buying and Selling

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

Sysco Price Performance

Shares of NYSE:SYY opened at $71.96 on Thursday. The company’s fifty day moving average price is $76.43 and its 200-day moving average price is $76.03. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.04 and a beta of 1.18. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. 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 (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter last year, the company posted $0.89 EPS. On average, equities research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is presently 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.