Dakota Wealth Management Grows Stock Position in Sysco Co. (NYSE:SYY)

Dakota Wealth Management lifted its position in Sysco Co. (NYSE:SYY) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,496 shares of the company’s stock after purchasing an additional 459 shares during the quarter. Dakota Wealth Management’s holdings in Sysco were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SYY. Armstrong Advisory Group Inc. raised its stake 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 worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco in the third quarter worth about $37,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco in the third quarter worth about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

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 value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s 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 sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock worth $6,485,050 in the last three months. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SYY shares. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company decreased 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. Morgan Stanley decreased their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Finally, Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Four 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.79.

Sysco Stock Up 0.4 %

Shares of SYY opened at $73.71 on Friday. 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 Co. has a one year low of $69.03 and a one year high of $82.89. The stock has a market capitalization of $36.21 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.05 and a beta of 1.18. The stock has a 50 day moving average price of $76.48 and a 200 day moving average price of $75.88.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 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 analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 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.