Silver Oak Securities Incorporated Invests $328,000 in Sysco Co. (NYSE:SYY)

Silver Oak Securities Incorporated bought a new position in Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,302 shares of the company's stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Armstrong Advisory Group Inc. boosted its stake in 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 purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter worth about $31,000. Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter worth about $37,000. Finally, Canoe Financial LP bought a new position in Sysco in the 3rd quarter worth about $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction 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 directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company's stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price objective on the stock. Melius Research upgraded shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price objective 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. Four 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $84.38.

Sysco Price Performance

SYY traded down $0.38 during trading on Wednesday, reaching $70.16. 2,549,868 shares of the company traded hands, compared to its average volume of 3,538,545. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm has a fifty day simple moving average of $75.47 and a 200 day simple moving average of $75.93. The company has a market cap of $34.32 billion, a P/E ratio of 18.04, a PEG ratio of 1.88 and a beta of 1.17.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, January 3rd. Sysco's dividend payout ratio (DPR) 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.