Sysco Co. (NYSE:SYY) Stock Holdings Cut by Wealth Management Solutions LLC

Wealth Management Solutions LLC reduced its position in shares of Sysco Co. (NYSE:SYYGet Rating) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,659 shares of the company’s stock after selling 481 shares during the quarter. Sysco comprises 0.4% of Wealth Management Solutions LLC’s portfolio, making the stock its 27th largest holding. Wealth Management Solutions LLC’s holdings in Sysco were worth $754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Sysco by 5.1% during the second quarter. FMR LLC now owns 12,638,244 shares of the company’s stock valued at $1,070,587,000 after buying an additional 608,222 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sysco by 14.9% during the third quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock valued at $521,123,000 after buying an additional 953,110 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Sysco by 27.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock valued at $439,437,000 after buying an additional 1,111,654 shares in the last quarter. Parnassus Investments LLC raised its holdings in Sysco by 3.9% during the second quarter. Parnassus Investments LLC now owns 5,129,376 shares of the company’s stock valued at $434,509,000 after buying an additional 191,146 shares in the last quarter. Finally, Coho Partners Ltd. raised its holdings in Sysco by 4.0% during the third quarter. Coho Partners Ltd. now owns 3,496,098 shares of the company’s stock valued at $247,209,000 after buying an additional 134,402 shares in the last quarter. 81.18% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 12,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $85.00, for a total value of $1,020,000.00. Following the completion of the transaction, the executive vice president now owns 40,931 shares of the company’s stock, valued at approximately $3,479,135. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by company insiders.

Sysco Stock Down 0.7 %

SYY stock opened at $77.58 on Wednesday. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The company has a market cap of $39.32 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The business’s 50-day simple moving average is $80.92 and its 200 day simple moving average is $81.48. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 9.20.

Sysco (NYSE:SYYGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Sysco had a net margin of 2.03% and a return on equity of 137.76%. The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $18.63 billion. On average, research analysts anticipate that Sysco Co. will post 4.14 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, January 5th. Sysco’s dividend payout ratio (DPR) is 69.50%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 21st. Wells Fargo & Company dropped their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 4th. Argus lifted their price objective on Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Morgan Stanley lifted their price objective on Sysco from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Finally, Stephens reiterated an “overweight” rating and issued a $90.00 price objective on shares of Sysco in a research note on Friday, January 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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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