Wright Investors Service Inc. Has $1.89 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Wright Investors Service Inc. lowered its stake in Sysco Co. (NYSE:SYY) by 25.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,759 shares of the company’s stock after selling 8,417 shares during the quarter. Wright Investors Service Inc.’s holdings in Sysco were worth $1,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Armstrong Advisory Group Inc. increased its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco during the third quarter worth $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the third quarter worth $37,000. Finally, Fairscale Capital LLC bought a new stake in Sysco during the second quarter worth $38,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Sysco Stock Up 0.2 %

SYY stock opened at $73.71 on Tuesday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market capitalization of $36.21 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.10 and a beta of 1.18. The business’s fifty day moving average price is $76.98 and its two-hundred day moving average price is $75.76.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were 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 approximately $4,335,408. The trade was a 46.03 % 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 worth $6,485,050. Company insiders own 0.54% of the company’s stock.

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.