Moran Wealth Management LLC Decreases Holdings in Sysco Co. (NYSE:SYY)

Moran Wealth Management LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,290 shares of the company’s stock after selling 559 shares during the period. Moran Wealth Management LLC’s holdings in Sysco were worth $6,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. Principal Financial Group Inc. boosted its position in Sysco by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock worth $47,471,000 after purchasing an additional 22,513 shares during the period. Leavell Investment Management Inc. boosted its position in Sysco by 9.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 5,166 shares of the company’s stock worth $403,000 after purchasing an additional 438 shares during the period. Assetmark Inc. boosted its position in Sysco by 18.6% in the 3rd quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock valued at $96,000 after buying an additional 193 shares during the last quarter. Covestor Ltd boosted its position in Sysco by 26.7% in the 3rd quarter. Covestor Ltd now owns 1,432 shares of the company’s stock valued at $112,000 after buying an additional 302 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC boosted its position in Sysco by 4.1% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 9,362 shares of the company’s stock valued at $731,000 after buying an additional 373 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Price Performance

SYY opened at $76.96 on Tuesday. The firm has a market cap of $37.65 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company’s 50-day moving average price is $73.48 and its 200 day moving average price is $75.60. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released 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 EPS. As a group, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.