Nwam LLC Takes Position in Sysco Co. (NYSE:SYY)

Nwam LLC bought a new stake in shares of Sysco Co. (NYSE:SYY) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 6,014 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds have also modified their holdings of SYY. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the second quarter valued at $25,000. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% during the third 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 position in Sysco during the third quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco during the third quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco during the third quarter valued at $37,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’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 transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYY. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price target on 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 dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.79 on Monday. The business has a 50 day moving average price of $75.69 and a 200 day moving average price of $74.74. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.99 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 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 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 business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the company earned $1.07 EPS. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. Sysco’s dividend payout ratio is currently 52.44%.

Sysco 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.