Allworth Financial LP Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Allworth Financial LP boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 46.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,999 shares of the company’s stock after purchasing an additional 3,167 shares during the quarter. Allworth Financial LP’s holdings in Sysco were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the 4th quarter valued at about $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP acquired a new position in Sysco in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.6 %

SYY opened at $71.12 on Friday. The company’s 50 day moving average price is $74.10 and its two-hundred day moving average price is $75.69. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.85 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company posted $0.89 EPS. As a group, research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,370 shares of company stock worth $5,965,519. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley lowered their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sysco has an average 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.