Diversify Wealth Management LLC Acquires 611 Shares of Sysco Co. (NYSE:SYY)

Diversify Wealth Management LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 7.3% in the fourth quarter, Holdings Channel reports. The firm owned 9,017 shares of the company’s stock after purchasing an additional 611 shares during the quarter. Diversify Wealth Management LLC’s holdings in Sysco were worth $664,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. raised its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Sysco in the third quarter worth $137,900,000. Nordea Investment Management AB grew its holdings in shares of Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 0.5 %

SYY opened at $73.47 on Wednesday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The firm has a market cap of $36.09 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm’s fifty day moving average is $76.62 and its two-hundred day moving average is $75.87.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.78%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Wells Fargo & Company lowered their price objective 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. Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.79.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of Sysco 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 sale, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is currently 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.