Alliance Wealth Advisors LLC UT Sells 770 Shares of Sysco Co. (NYSE:SYY)

Alliance Wealth Advisors LLC UT lessened its position in Sysco Co. (NYSE:SYY) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,216 shares of the company’s stock after selling 770 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Sysco were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Sysco

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

Wall Street Analyst Weigh In

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

Sysco Stock Performance

Shares of Sysco stock remained flat at $77.07 during trading on Friday. 2,072,280 shares of the company traded hands, compared to its average volume of 2,339,761. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The firm has a market capitalization of $38.37 billion, a P/E ratio of 18.84, a PEG ratio of 1.57 and a beta of 1.15. The business’s 50 day moving average price is $79.16 and its two-hundred day moving average price is $74.85. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last released its 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 analyst estimates of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. As a group, analysts predict that Sysco Co. will post 4.33 EPS for the current year.

Sysco Increases Dividend

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