Sysco Co. (NYSE:SYY) Stock Position Raised by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,320 shares of the company’s stock after purchasing an additional 672 shares during the period. Perigon Wealth Management LLC’s holdings in Sysco were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYY. Northwestern Mutual Wealth Management Co. lifted its stake in Sysco by 58.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock valued at $4,525,000 after buying an additional 23,321 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Sysco by 2.7% in the 2nd quarter. Cetera Investment Advisers now owns 292,770 shares of the company’s stock valued at $20,901,000 after acquiring an additional 7,758 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Sysco in the 2nd quarter worth approximately $6,827,000. Massmutual Trust Co. FSB ADV grew its position in Sysco by 44.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 44,122 shares of the company’s stock worth $3,444,000 after purchasing an additional 13,639 shares in the last quarter. Finally, AMF Tjanstepension AB raised its stake in Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after purchasing an additional 20,356 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY opened at $72.79 on Friday. The stock has a 50-day moving average of $76.36 and a 200-day moving average of $75.98. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.73 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a market cap of $35.76 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on SYY. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company reduced their price target 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. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley cut their target price 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.85.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last ninety days. Company insiders own 0.54% of the company’s stock.

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.