Sysco Co. (NYSE:SYY) Shares Bought by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,410 shares of the company’s stock after purchasing an additional 439 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Sysco were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the 4th quarter valued at about $31,000. SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 5.3 %

Shares of NYSE:SYY opened at $71.41 on Monday. The stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.88 and a beta of 0.91. Sysco Co. has a 1-year low of $68.81 and a 1-year high of $82.23. The company has a 50 day moving average price of $73.07 and a 200 day moving average price of $75.04. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued 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 period in the previous year, the business posted $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYY shares. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Finally, Barclays dropped their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.77.

About Sysco

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.