WESCAP Management Group Inc. Has $1.24 Million Stock Holdings in Sysco Co. (NYSE:SYY)

WESCAP Management Group Inc. lowered its stake in Sysco Co. (NYSE:SYY) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,232 shares of the company’s stock after selling 309 shares during the quarter. WESCAP Management Group Inc.’s holdings in Sysco were worth $1,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the 4th quarter worth $31,000. SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after acquiring an additional 321 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.6 %

Sysco stock opened at $75.46 on Wednesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company’s 50-day moving average is $73.07 and its 200-day moving average is $75.10. The firm has a market capitalization of $36.91 billion, a PE ratio of 19.40, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 quarter in the prior year, the firm earned $0.89 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’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 value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.77.

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.