Parsons Capital Management Inc. RI Has $1.80 Million Holdings in Sysco Co. (NYSE:SYY)

Parsons Capital Management Inc. RI trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,495 shares of the company’s stock after selling 625 shares during the period. Parsons Capital Management Inc. RI’s holdings in Sysco were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SYY. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter worth $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco during the third quarter valued at $37,000. Finally, Canoe Financial LP bought a new position in Sysco in the third quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 over the last three months. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SYY shares. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Morgan Stanley decreased their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.79.

Sysco Stock Performance

Shares of SYY opened at $76.83 on Tuesday. The firm has a market cap of $37.74 billion, a P/E ratio of 19.75, a PEG ratio of 2.04 and a beta of 1.18. Sysco Co. has a twelve month low of $69.03 and a twelve month 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 firm’s 50 day moving average price is $76.45 and its two-hundred day moving average price is $75.99.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during 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 company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. On average, analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.66%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.