Alliance Wealth Advisors LLC UT Cuts Position in Sysco Co. (NYSE:SYY)

Alliance Wealth Advisors LLC UT lowered its position in Sysco Co. (NYSE:SYY) by 8.6% in the fourth quarter, Holdings Channel reports. The fund owned 8,216 shares of the company’s stock after selling 770 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Sysco were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in shares of Sysco by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 204,602 shares of the company’s stock worth $13,514,000 after purchasing an additional 2,399 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Sysco by 25.2% in the third quarter. Handelsbanken Fonder AB now owns 266,256 shares of the company’s stock valued at $17,586,000 after buying an additional 53,622 shares in the last quarter. Trust Co. of Toledo NA OH lifted its holdings in Sysco by 3.7% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 4,953 shares of the company’s stock worth $327,000 after buying an additional 176 shares during the last quarter. Charles Schwab Trust Co acquired a new position in shares of Sysco during the 3rd quarter worth about $333,000. Finally, Country Club Bank GFN boosted its position in shares of Sysco by 4.0% during the 3rd quarter. Country Club Bank GFN now owns 5,184 shares of the company’s stock worth $345,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. Barclays raised their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Stock Performance

SYY remained flat at $77.07 during trading on Friday. 2,072,280 shares of the company’s stock traded hands, compared to its average volume of 2,339,761. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock’s 50-day moving average is $79.16 and its 200 day moving average is $74.85. The stock has a market capitalization of $38.37 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Analysts forecast that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s payout ratio is 49.88%.

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.