Parallel Advisors LLC Buys 619 Shares of Sysco Co. (NYSE:SYY)

Parallel Advisors LLC lifted its stake in Sysco Co. (NYSE:SYY) by 12.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,640 shares of the company’s stock after acquiring an additional 619 shares during the period. Parallel Advisors LLC’s holdings in Sysco were worth $431,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Buckley Wealth Management LLC raised its stake in shares of 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 buying an additional 150 shares in the last quarter. WR Wealth Planners LLC raised its position in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after purchasing an additional 386 shares in the last quarter. Captrust Financial Advisors lifted its stake in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the period. Clark & Stuart Inc bought a new position in Sysco during the fourth quarter worth about $7,613,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in Sysco by 76.0% during the third 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 own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Guggenheim reissued a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Trading Down 0.1 %

Shares of NYSE SYY opened at $71.12 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a 50-day moving average of $73.10 and a two-hundred day moving average of $75.36. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market cap of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm earned $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.87%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco 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 transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.