Sysco Co. (NYSE:SYY) Shares Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its holdings in Sysco Co. (NYSE:SYY) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,021 shares of the company’s stock after buying an additional 813 shares during the period. Congress Wealth Management LLC DE’s holdings in Sysco were worth $866,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of NYSE SYY opened at $73.99 on Friday. The stock has a fifty day moving average price of $72.97 and a two-hundred day moving average price of $75.18. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23. The firm has a market cap of $36.20 billion, a P/E ratio of 19.02, a PEG ratio of 1.88 and a beta of 1.11. 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 (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business posted $0.89 earnings per share. Research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.