Legacy Capital Wealth Partners LLC Lowers Holdings in Sysco Co. (NYSE:SYY)

Legacy Capital Wealth Partners LLC lessened its holdings in Sysco Co. (NYSE:SYY) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,921 shares of the company’s stock after selling 1,829 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Sysco were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Hunter Associates Investment Management LLC boosted its stake in Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock worth $606,000 after buying an additional 125 shares during the period. Hazlett Burt & Watson Inc. raised its position in Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after purchasing an additional 135 shares during the period. Quent Capital LLC lifted its stake in Sysco by 5.0% during the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after purchasing an additional 140 shares in the last quarter. GHE LLC boosted its holdings in Sysco by 1.0% during the 4th quarter. GHE LLC now owns 14,718 shares of the company’s stock valued at $1,076,000 after acquiring an additional 146 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Sysco by 0.5% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock valued at $2,457,000 after acquiring an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sysco Stock Performance

Shares of Sysco stock opened at $77.07 on Monday. The company has a fifty day simple moving average of $79.16 and a 200-day simple moving average of $74.93. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. 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 stock has a market cap of $38.37 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.33 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is presently 48.90%.

Insider Buying and Selling

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were 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 of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by company insiders.

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.