FSA Wealth Management LLC Makes New $78,000 Investment in Sysco Co. (NYSE:SYY)

FSA Wealth Management LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 993 shares of the company’s stock, valued at approximately $78,000.

Several other institutional investors and hedge funds have also modified their holdings of SYY. TruNorth Capital Management LLC bought a new position in shares of Sysco in the second quarter worth about $25,000. Armstrong Advisory Group Inc. lifted 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 valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter worth $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco during the third quarter worth $37,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYY shares. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Performance

Shares of SYY opened at $77.11 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm’s fifty day simple moving average is $75.78 and its two-hundred day simple moving average is $74.77. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The stock has a market capitalization of $37.88 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 EPS. As a group, analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s payout ratio is presently 52.44%.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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.