Stockman Wealth Management Inc. Raises Stake in Sysco Co. (NYSE:SYY)

Stockman Wealth Management Inc. increased its stake in Sysco Co. (NYSE:SYY) by 4.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 100,652 shares of the company’s stock after buying an additional 4,190 shares during the period. Sysco comprises 1.2% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Stockman Wealth Management Inc.’s holdings in Sysco were worth $7,696,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the third quarter worth about $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco in the third quarter worth about $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYY shares. JPMorgan Chase & Co. lowered their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Stock Down 0.2 %

SYY stock opened at $71.13 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $34.80 billion, a P/E ratio of 18.29, a PEG ratio of 1.88 and a beta of 1.17. The business’s 50-day moving average price is $75.78 and its 200-day moving average price is $75.90.

Sysco (NYSE:SYY) last posted 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock valued at $6,181,946 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Sysco 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.