Sysco Co. (NYSE:SYY) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 14.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,442 shares of the company’s stock after selling 2,435 shares during the quarter. Bristlecone Advisors LLC’s holdings in Sysco were worth $1,104,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the third quarter worth about $31,000. Focused Wealth Management Inc acquired a new stake in Sysco in the third quarter valued at approximately $37,000. Finally, Canoe Financial LP acquired a new stake in Sysco in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 in the last three months. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $70.07 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market cap of $34.28 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company’s 50 day simple moving average is $75.78 and its 200-day simple moving average is $75.96. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

Sysco (NYSE:SYY) last announced 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the firm earned $0.89 EPS. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYY shares. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Barclays reduced their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

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.