Angeles Wealth Management LLC Invests $206,000 in Sysco Co. (NYSE:SYY)

Angeles Wealth Management LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,694 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. AMF Tjanstepension AB increased its holdings in Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after purchasing an additional 20,356 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Sysco by 455.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,024 shares of the company’s stock valued at $314,000 after purchasing an additional 3,300 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Sysco by 19.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 5,272 shares of the company’s stock valued at $412,000 after purchasing an additional 860 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Sysco by 6.4% in the 3rd quarter. Gateway Investment Advisers LLC now owns 16,390 shares of the company’s stock valued at $1,279,000 after buying an additional 980 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Sysco by 147.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 20,533 shares of the company’s stock valued at $1,603,000 after buying an additional 12,235 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius started coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Stock Performance

SYY stock opened at $70.07 on Tuesday. The business’s 50-day moving average price is $75.78 and its two-hundred day moving average price is $75.96. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market cap of $34.28 billion, a PE ratio of 18.01, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the business posted $0.89 EPS. As a group, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by insiders.

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.