Apollon Wealth Management LLC Acquires 694 Shares of Sysco Co. (NYSE:SYY)

Apollon Wealth Management LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,290 shares of the company’s stock after purchasing an additional 694 shares during the period. Apollon Wealth Management LLC’s holdings in Sysco were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at approximately $31,000. Focused Wealth Management Inc acquired a new stake in Sysco in the third quarter valued at approximately $37,000. Canoe Financial LP acquired a new stake in Sysco in the third quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco in the third quarter valued at approximately $47,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated 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 in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,270 shares of company stock valued at $6,181,946. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SYY shares. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Stock Down 0.5 %

SYY opened at $70.16 on Thursday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a fifty day moving average of $75.47 and a two-hundred day moving average of $75.93. The stock has a market capitalization of $34.32 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 in the previous year, the business earned $0.89 earnings per share. On average, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. Sysco’s payout ratio is 52.44%.

Sysco Company 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.