Providence Capital Advisors LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Providence Capital Advisors LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 80,600 shares of the company’s stock, valued at approximately $6,292,000.

Other hedge funds also recently made changes to their positions in the company. Plimoth Trust Co. LLC raised its holdings in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after purchasing an additional 139 shares during the last quarter. Koshinski Asset Management Inc. grew its position in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC raised its stake in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after buying an additional 149 shares during the last quarter. Cable Hill Partners LLC lifted its holdings in shares of Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after buying an additional 152 shares during the period. Finally, Arrow Financial Corp boosted its stake in shares of Sysco by 0.8% in the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after buying an additional 155 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYY shares. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Performance

Shares of Sysco stock opened at $76.65 on Thursday. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a market cap of $37.65 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.02 and a beta of 1.20. The business’s 50 day moving average price is $75.70 and its 200 day moving average price is $74.76. 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 released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated 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 directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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.