Sysco Co. (NYSE:SYY) Holdings Decreased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its holdings in shares of Sysco Co. (NYSE:SYY) by 15.6% in the fourth quarter, HoldingsChannel reports. The fund owned 9,921 shares of the company’s stock after selling 1,829 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Sysco were worth $726,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SYY. AdvisorNet Financial Inc grew its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Sysco during the fourth quarter valued at $34,000. BluePath Capital Management LLC purchased a new position in Sysco in the third quarter valued at about $38,000. Finally, Milestone Investment Advisors LLC acquired a new position in Sysco in the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Sysco

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

Sysco Stock Performance

Shares of SYY stock opened at $77.07 on Monday. The firm has a market capitalization of $38.37 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s fifty day simple moving average is $79.16 and its 200 day simple moving average is $74.93. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Co. will post 4.33 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.90%.

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.