CoreCap Advisors LLC Cuts Position in Sysco Co. (NYSE:SYY)

CoreCap Advisors LLC reduced its position in shares of Sysco Co. (NYSE:SYYFree Report) by 5.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,947 shares of the company’s stock after selling 179 shares during the period. CoreCap Advisors LLC’s holdings in Sysco were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYY. Hexagon Capital Partners LLC boosted its stake in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Sysco during the first quarter worth $32,000. CGC Financial Services LLC acquired a new stake in shares of Sysco in the second quarter valued at $33,000. Intrepid Capital Management Inc. purchased a new position in shares of Sysco in the 2nd quarter valued at about $35,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Sysco during the second quarter worth approximately $37,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYY. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets increased their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Stephens increased their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

View Our Latest Report on Sysco

Sysco Price Performance

Shares of NYSE SYY opened at $81.94 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The stock has a market cap of $40.79 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.65 and a beta of 1.16. The stock has a 50 day moving average of $79.42 and a two-hundred day moving average of $73.25. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYYGet Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Sysco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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