Sysco Co. (NYSE:SYY) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its holdings in Sysco Co. (NYSE:SYY) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,976 shares of the company’s stock after selling 272 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Sysco were worth $154,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Plimoth Trust Co. LLC increased its stake in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares in the last quarter. Powers Advisory Group LLC increased its position in Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after buying an additional 149 shares in the last quarter. Cable Hill Partners LLC increased its position in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after buying an additional 152 shares in the last quarter. Finally, Arrow Financial Corp increased its position in Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after buying an additional 155 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 0.9 %

Shares of Sysco stock opened at $75.79 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market cap of $37.23 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.99 and a beta of 1.20. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The business has a 50-day moving average price of $75.69 and a 200 day moving average price of $74.74.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, sell-side 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 will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.77.

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.