Moran Wealth Management LLC Invests $6.31 Million in Sysco Co. (NYSE:SYY)

Moran Wealth Management LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 80,849 shares of the company’s stock, valued at approximately $6,311,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. TruNorth Capital Management LLC purchased a new stake in Sysco in the second quarter worth about $25,000. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the third quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc purchased a new stake in Sysco during the 3rd quarter valued at $37,000. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Down 1.0 %

SYY stock opened at $73.63 on Thursday. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a fifty day moving average price of $75.74 and a 200 day moving average price of $74.74.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. Sell-side analysts expect 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. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco 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 transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This 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.

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.