Wealth Management Partners LLC Has $629,000 Position in Sysco Co. (NYSE:SYY)

Wealth Management Partners LLC lessened its position in Sysco Co. (NYSE:SYY) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,221 shares of the company’s stock after selling 654 shares during the period. Wealth Management Partners LLC’s holdings in Sysco were worth $629,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% during the third 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 worth about $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the 3rd quarter worth about $31,000. Focused Wealth Management Inc bought a new stake in Sysco during the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC bought a new position in shares of Sysco in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.3 %

NYSE:SYY opened at $73.02 on Monday. The company has a market cap of $35.87 billion, a PE ratio of 18.77, a PEG ratio of 1.93 and a beta of 1.18. The stock has a 50-day simple moving average of $76.72 and a 200 day simple moving average of $75.81. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal 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 issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.79%. Sysco’s payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, 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 sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock worth $6,485,050 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company reduced 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. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.93.

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.