Sysco Co. (NYSE:SYY) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,544 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Sysco comprises approximately 1.3% of Providence Capital Advisors LLC’s portfolio, making the stock its 29th biggest position. Providence Capital Advisors LLC’s holdings in Sysco were worth $6,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Buckley Wealth Management LLC raised its stake in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC boosted its stake in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after buying an additional 386 shares during the last quarter. Captrust Financial Advisors increased its holdings in Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares during the last quarter. Clark & Stuart Inc bought a new stake in Sysco during the fourth quarter valued at $7,613,000. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Sysco by 76.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock worth $10,256,000 after purchasing an additional 58,430 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Finally, Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Up 1.7 %

SYY opened at $73.99 on Friday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The company’s 50-day moving average is $72.97 and its 200 day moving average is $75.18. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $36.20 billion, a P/E ratio of 19.02, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 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 last year, the business earned $0.89 EPS. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Insider Activity

In related news, 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 value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.