Phoenix Wealth Advisors Has $236,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Phoenix Wealth Advisors cut its position in Sysco Co. (NYSE:SYY) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,082 shares of the company’s stock after selling 172 shares during the quarter. Phoenix Wealth Advisors’ holdings in Sysco were worth $236,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco in the 3rd quarter valued at about $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.79.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction 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 owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,306 shares of company stock worth $6,485,050. Insiders own 0.54% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $73.47 on Wednesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. 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 $76.54 and its 200 day simple moving average is $75.90. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.03 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 EPS. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.78%. Sysco’s payout ratio is 52.44%.

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.