Founders Grove Wealth Partners LLC Invests $207,000 in Sysco Co. (NYSE:SYY)

Founders Grove Wealth Partners LLC bought a new position in Sysco Co. (NYSE:SYY) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,707 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors have also modified their holdings of the business. Laurel Wealth Advisors LLC lifted its stake in shares of Sysco by 15.0% in the fourth quarter. Laurel Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $176,000 after acquiring an additional 300 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Sysco by 34.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,260 shares of the company’s stock worth $96,000 after acquiring an additional 325 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Sysco by 25.1% in the fourth quarter. Park Avenue Securities LLC now owns 10,807 shares of the company’s stock worth $826,000 after acquiring an additional 2,167 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Sysco in the fourth quarter worth about $642,000. Finally, Rockland Trust Co. acquired a new position in shares of Sysco in the fourth quarter worth about $364,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 0.4 %

Shares of Sysco stock opened at $73.98 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The business’s 50 day simple moving average is $76.94 and its 200-day simple moving average is $75.78. The stock has a market capitalization of $36.34 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.10 and a beta of 1.18. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SYY shares. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.93.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.