Sysco Co. (NYSE:SYY) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its position in shares of Sysco Co. (NYSE:SYY) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 6,404 shares of the company’s stock after selling 175 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Sysco were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthfront Advisers LLC lifted its holdings in shares of Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock worth $2,246,000 after purchasing an additional 24,650 shares during the period. Professional Advisory Services Inc. acquired a new position in Sysco in the fourth quarter valued at approximately $20,057,000. Harbour Trust & Investment Management Co acquired a new position in Sysco in the fourth quarter valued at approximately $4,623,000. Pacer Advisors Inc. lifted its holdings in Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after acquiring an additional 23,558 shares during the period. Finally, Sherbrooke Park Advisers LLC lifted its holdings in Sysco by 161.7% in the third quarter. Sherbrooke Park Advisers LLC now owns 18,238 shares of the company’s stock valued at $1,205,000 after acquiring an additional 11,269 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYY shares. Barclays boosted their price target on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Stephens boosted their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Stock Down 0.5 %

Shares of NYSE:SYY opened at $75.44 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The business has a fifty day moving average of $79.52 and a two-hundred day moving average of $74.23. The stock has a market cap of $37.56 billion, a P/E ratio of 18.44, a PEG ratio of 1.55 and a beta of 1.15. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Sysco 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.