Peddock Capital Advisors LLC Cuts Stock Holdings in Sysco Co. (NYSE:SYY)

Peddock Capital Advisors LLC lowered its position in Sysco Co. (NYSE:SYY) by 16.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,899 shares of the company’s stock after selling 561 shares during the period. Peddock Capital Advisors LLC’s holdings in Sysco were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new stake in Sysco in the 3rd quarter valued at approximately $37,000. Finally, Fairscale Capital LLC acquired a new stake in Sysco in the 2nd quarter valued at approximately $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Stock Performance

Shares of SYY traded up $0.12 during mid-day trading on Monday, reaching $73.71. 2,536,970 shares of the company’s stock traded hands, compared to its average volume of 1,985,944. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The stock has a market capitalization of $36.21 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The business’s 50-day moving average price is $77.02 and its 200-day moving average price is $75.75. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last announced 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 net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. Sysco’s dividend payout ratio (DPR) 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.