Icon Wealth Advisors LLC Has $154,000 Position in Sysco Co. (NYSE:SYY)

Icon Wealth Advisors LLC lowered its stake in Sysco Co. (NYSE:SYY) by 12.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,976 shares of the company’s stock after selling 272 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Sysco were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. boosted its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the third quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc bought a new position in Sysco in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $75.79 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $37.23 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.99 and a beta of 1.20. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The firm has a 50-day moving average price of $75.69 and a two-hundred day moving average price of $74.74.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the 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 completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

About Sysco

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.