PrairieView Partners LLC Acquires 360 Shares of Sysco Co. (NYSE:SYY)

PrairieView Partners LLC increased its position in shares of Sysco Co. (NYSE:SYY) by 90.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 760 shares of the company’s stock after purchasing an additional 360 shares during the quarter. PrairieView Partners LLC’s holdings in Sysco were worth $58,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SYY. Ashton Thomas Securities LLC acquired a new stake in Sysco in the 3rd quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter worth approximately $31,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in Sysco during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

Sysco stock opened at $70.16 on Thursday. The firm has a 50 day moving average price of $75.47 and a two-hundred day moving average price of $75.93. The firm has a market cap of $34.32 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

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

Sysco Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on SYY. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction 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 directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 in the last quarter. 0.54% of the stock is owned by corporate 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.