Sysco Co. (NYSE:SYY) Shares Purchased by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. boosted its holdings in Sysco Co. (NYSE:SYY) by 7.0% during the third quarter, Holdings Channel reports. The institutional investor owned 96,462 shares of the company’s stock after buying an additional 6,290 shares during the period. Stockman Wealth Management Inc.’s holdings in Sysco were worth $7,530,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. VeraBank N.A. acquired a new stake in Sysco in the 3rd quarter worth about $215,000. Crossmark Global Holdings Inc. boosted its stake in Sysco by 48.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 196,435 shares of the company’s stock worth $15,334,000 after buying an additional 64,175 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in Sysco by 2.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 91,378 shares of the company’s stock worth $7,133,000 after buying an additional 2,471 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in Sysco by 4.1% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 9,362 shares of the company’s stock worth $731,000 after buying an additional 373 shares during the last quarter. Finally, Houlihan Financial Resource Group Ltd. acquired a new stake in Sysco in the 3rd quarter worth about $342,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.7 %

SYY stock traded up $0.52 during midday trading on Friday, hitting $77.39. 2,237,182 shares of the company’s stock were exchanged, compared to its average volume of 3,353,991. The firm has a 50 day moving average price of $76.14 and a 200-day moving average price of $74.76. Sysco Co. has a 12-month low of $66.27 and a 12-month high of $82.89. The stock has a market capitalization of $38.02 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’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 completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYY. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

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.