Pathway Financial Advisors LLC Buys Shares of 3,760 Sysco Co. (NYSE:SYY)

Pathway Financial Advisors LLC bought a new stake in Sysco Co. (NYSE:SYYGet Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,760 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its stake in shares of Sysco by 0.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 24,646 shares of the company’s stock valued at $2,088,000 after purchasing an additional 120 shares during the last quarter. Athena Investment Management boosted its stake in shares of Sysco by 4.6% in the second quarter. Athena Investment Management now owns 2,745 shares of the company’s stock valued at $233,000 after buying an additional 120 shares in the last quarter. Brinker Capital Investments LLC boosted its stake in shares of Sysco by 3.2% in the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after buying an additional 121 shares in the last quarter. Tower Bridge Advisors boosted its stake in shares of Sysco by 3.0% in the second quarter. Tower Bridge Advisors now owns 4,198 shares of the company’s stock valued at $356,000 after buying an additional 123 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Sysco by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 6,658 shares of the company’s stock valued at $564,000 after buying an additional 123 shares in the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYY. Stephens restated an “overweight” rating and issued a $90.00 price target on shares of Sysco in a research note on Friday, January 13th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 21st. Morgan Stanley lifted their price objective on Sysco from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Barclays reduced their price objective on Sysco from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Finally, Wells Fargo & Company reduced their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, January 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Sysco Price Performance

Shares of NYSE SYY traded down $0.22 during trading on Wednesday, reaching $77.89. The company had a trading volume of 321,009 shares, compared to its average volume of 2,020,176. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The stock has a market capitalization of $39.47 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The stock has a 50-day moving average price of $80.92 and a two-hundred day moving average price of $81.48. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 9.20.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Sysco had a return on equity of 137.76% and a net margin of 2.03%. The company had revenue of $19.13 billion during the quarter, compared to analyst estimates of $18.63 billion. As a group, sell-side analysts predict that Sysco Co. will post 4.14 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, January 5th. Sysco’s dividend payout ratio is currently 69.50%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 12,000 shares of Sysco stock in a transaction on Friday, October 28th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. Following the completion of the sale, the executive vice president now owns 40,931 shares of the company’s stock, valued at $3,479,135. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.43% of the company’s stock.

Sysco Company Profile

(Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

See Also

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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