B. Riley Wealth Advisors Inc. Sells 1,008 Shares of Sysco Co. (NYSE:SYY)

B. Riley Wealth Advisors Inc. lowered its position in Sysco Co. (NYSE:SYY) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,915 shares of the company’s stock after selling 1,008 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Sysco were worth $768,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SYY. Copley Financial Group Inc. bought a new stake in shares of Sysco in the third quarter worth about $480,000. Franklin Resources Inc. increased its stake in Sysco by 14.7% during the 3rd quarter. Franklin Resources Inc. now owns 572,158 shares of the company’s stock worth $43,038,000 after purchasing an additional 73,306 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in Sysco by 5.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 190,692 shares of the company’s stock worth $14,886,000 after buying an additional 10,519 shares during the period. Synovus Financial Corp lifted its stake in Sysco by 14.7% in the third quarter. Synovus Financial Corp now owns 4,238 shares of the company’s stock valued at $331,000 after buying an additional 543 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Sysco by 51.3% in the third quarter. Tidal Investments LLC now owns 37,030 shares of the company’s stock valued at $2,891,000 after buying an additional 12,550 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SYY shares. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday. Melius started coverage on Sysco in a report on Wednesday. They issued a “hold” rating and a $85.00 price target on the stock. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,279 shares of company stock valued at $2,786,971. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 1.2 %

Shares of NYSE:SYY opened at $77.08 on Thursday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $37.86 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The company has a 50-day simple moving average of $76.60 and a 200 day simple moving average of $75.32.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

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

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.