Beach Investment Counsel Inc. PA Sells 4,400 Shares of Sysco Co. (NYSE:SYY)

Beach Investment Counsel Inc. PA reduced its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,920 shares of the company's stock after selling 4,400 shares during the period. Beach Investment Counsel Inc. PA's holdings in Sysco were worth $1,064,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its holdings 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 worth $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new stake in Sysco in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SYY shares. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price objective for the company. Melius Research upgraded Sysco to a "hold" rating in a report on Wednesday, December 18th. Finally, Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.38.

Sysco Stock Down 0.2 %

Shares of SYY stock traded down $0.13 during trading hours on Friday, hitting $71.13. 2,595,477 shares of the company's stock traded hands, compared to its average volume of 3,591,358. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock's fifty day simple moving average is $75.90 and its two-hundred day simple moving average is $75.92. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The stock has a market cap of $34.80 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. Sysco's dividend payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock worth $6,181,946. Insiders own 0.54% of the company's stock.

Sysco Company 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.