Venturi Wealth Management LLC Acquires 366 Shares of Sysco Co. (NYSE:SYY)

Venturi Wealth Management LLC raised its holdings in Sysco Co. (NYSE:SYY) by 9.0% during the third quarter, Holdings Channel.com reports. The fund owned 4,449 shares of the company’s stock after purchasing an additional 366 shares during the period. Venturi Wealth Management LLC’s holdings in Sysco were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth $25,000. Armstrong Advisory Group Inc. grew its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter valued at about $26,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the 3rd quarter valued at approximately $37,000. Finally, Fairscale Capital LLC bought a new position in Sysco during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a 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. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $77.29 on Wednesday. Sysco Co. has a fifty-two week low of $66.87 and a fifty-two week high of $82.89. The stock has a market capitalization of $37.97 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.05 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50-day moving average of $76.14 and a 200-day moving average of $74.73.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.