Sysco Co. (NYSE:SYY) Shares Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 45.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,797 shares of the company’s stock after acquiring an additional 2,124 shares during the period. IHT Wealth Management LLC’s holdings in Sysco were worth $530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYY. Investment Management Corp of Ontario lifted its holdings in shares of Sysco by 49.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 16,547 shares of the company’s stock worth $1,292,000 after purchasing an additional 5,500 shares during the last quarter. Janus Henderson Group PLC increased its position in Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares during the period. Hilltop Holdings Inc. lifted its stake in Sysco by 29.7% in the third quarter. Hilltop Holdings Inc. now owns 10,953 shares of the company’s stock valued at $855,000 after buying an additional 2,507 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Sysco by 109.0% during the third quarter. Benjamin Edwards Inc. now owns 14,965 shares of the company’s stock valued at $1,170,000 after acquiring an additional 7,806 shares during the period. Finally, Atom Investors LP bought a new position in shares of Sysco during the third quarter worth about $2,726,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 1.3 %

SYY opened at $80.73 on Monday. The stock’s fifty day moving average is $76.06 and its 200-day moving average is $74.94. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a market capitalization of $39.66 billion, a PE ratio of 20.75, a P/E/G ratio of 2.11 and a beta of 1.19. 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 (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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 analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. On average, equities analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.53%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,279 shares of company stock valued at $2,786,971. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.