InvesTrust Invests $789,000 in Sysco Co. (NYSE:SYY)

InvesTrust acquired a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,327 shares of the company's stock, valued at approximately $789,000.

A number of other hedge funds have also modified their holdings of SYY. Armstrong Advisory Group Inc. boosted its position in shares of Sysco by 1,240.0% in 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 period. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco in the third quarter worth approximately $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco during the third quarter valued at approximately $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on SYY shares. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Melius Research upgraded Sysco to a "hold" rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.93.

Sysco Stock Up 0.3 %

NYSE:SYY traded up $0.25 during trading hours on Wednesday, reaching $74.80. The company's stock had a trading volume of 1,976,415 shares, compared to its average volume of 1,784,663. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.10 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 business's 50-day moving average is $77.04 and its 200-day moving average is $75.74.

Sysco (NYSE:SYY - Get Free Report) 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the company posted $1.07 EPS. The business's revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders 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 dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's payout ratio is 52.44%.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of 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 represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company's stock.

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.