IFP Advisors Inc Purchases 24,586 Shares of Sysco Co. (NYSE:SYY)

IFP Advisors Inc raised its position in shares of Sysco Co. (NYSE:SYY) by 925.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,243 shares of the company’s stock after acquiring an additional 24,586 shares during the period. IFP Advisors Inc’s holdings in Sysco were worth $2,085,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SYY. State Street Corp boosted its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Sysco during the third quarter valued at about $137,900,000. Nordea Investment Management AB boosted its holdings in Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after acquiring an additional 933,327 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Sysco during the third quarter valued at about $44,722,000. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,370 shares of company stock valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $74.49 on Wednesday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $36.44 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The firm has a 50-day moving average price of $73.78 and a 200 day moving average price of $75.66.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business earned $0.89 earnings per share. Research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

About Sysco

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.