Tyche Wealth Partners LLC Makes New $361,000 Investment in Sysco Co. (NYSE:SYY)

Tyche Wealth Partners LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, Holdings Channel reports. The firm acquired 4,932 shares of the company’s stock, valued at approximately $361,000.

Several other large investors have also recently added to or reduced their stakes in SYY. Moneta Group Investment Advisors LLC increased its position in Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after buying an additional 6,957,665 shares during the period. Norges Bank bought a new position in shares of Sysco in the fourth quarter worth $397,373,000. Morgan Stanley increased its position in shares of Sysco by 34.8% in the fourth quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock worth $493,859,000 after purchasing an additional 1,666,008 shares during the period. Imprint Wealth LLC increased its position in shares of Sysco by 7,204.3% in the second quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company’s stock worth $129,381,000 after purchasing an additional 1,276,096 shares during the period. Finally, Trian Fund Management L.P. bought a new position in shares of Sysco in the third quarter worth $80,812,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $75.44 on Thursday. The business’s 50-day moving average price is $79.52 and its 200-day moving average price is $74.23. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The firm has a market capitalization of $37.56 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.55 and a beta of 1.15. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. Equities research analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.65%. Sysco’s payout ratio is currently 48.90%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.