CWA Asset Management Group LLC Purchases New Holdings in Sysco Co. (NYSE:SYY)

by · The Cerbat Gem

CWA Asset Management Group LLC purchased a new position in shares of Sysco Co. (NYSE:SYY – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,753 shares of the company’s stock, valued at approximately $3,415,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. TruNorth Capital Management LLC acquired a new position in Sysco during the second quarter worth $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Focused Wealth Management Inc bought a new stake in shares of Sysco in the 3rd quarter valued at about $37,000. Fairscale Capital LLC acquired a new stake in Sysco in the 2nd quarter valued at about $38,000. Finally, Canoe Financial LP bought a new position in Sysco during the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

View Our Latest Stock Report on SYY

Sysco Trading Up 0.7 %

Shares of SYY stock opened at $77.41 on Friday. The stock has a market cap of $38.03 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a 1 year low of $66.27 and a 1 year 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 stock has a 50 day simple moving average of $76.14 and a 200 day simple moving average of $74.76.

Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Sysco Company Profile

(Free Report)

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.

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