Avantax Advisory Services Inc. Sells 5,191 Shares of Sysco Co. (NYSE:SYY)

Avantax Advisory Services Inc. reduced its stake in Sysco Co. (NYSE:SYY) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,267 shares of the company’s stock after selling 5,191 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sysco were worth $2,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Sysco by 18.6% during the third quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock worth $96,000 after buying an additional 193 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Sysco by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 21,359 shares of the company’s stock worth $1,667,000 after acquiring an additional 556 shares during the period. CIBC Asset Management Inc raised its position in shares of Sysco by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 82,750 shares of the company’s stock worth $6,459,000 after acquiring an additional 4,306 shares in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Sysco in the 3rd quarter valued at about $292,000. Finally, Claro Advisors LLC bought a new stake in shares of Sysco during the 3rd quarter valued at about $250,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Trading Up 2.1 %

Shares of Sysco stock opened at $74.78 on Tuesday. The company has a market capitalization of $36.58 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock has a fifty day simple moving average of $73.28 and a 200 day simple moving average of $75.49. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 company earned $0.89 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. 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 Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.