C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Shares in Sysco Co. (NYSE:SYY)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,333 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the 4th quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new position in Sysco during the 3rd quarter worth about $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the 3rd quarter worth about $37,000. Finally, Canoe Financial LP acquired a new position in Sysco during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,370 shares of company stock valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $71.12 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.85 and a beta of 1.17. The business has a 50-day simple moving average of $74.10 and a 200 day simple moving average of $75.69. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the business posted $0.89 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

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.