EP Wealth Advisors LLC Sells 571 Shares of Sysco Co. (NYSE:SYY)

EP Wealth Advisors LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,214 shares of the company’s stock after selling 571 shares during the period. EP Wealth Advisors LLC’s holdings in Sysco were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. MV Capital Management Inc. raised its holdings in Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after acquiring an additional 144 shares in the last quarter. Morton Community Bank raised its stake in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after purchasing an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its position in Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares during the period. SRS Capital Advisors Inc. grew its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust raised its position in shares of Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director now owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 1.2 %

Shares of NYSE SYY opened at $70.77 on Friday. The stock has a market cap of $34.31 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The firm has a 50 day moving average price of $72.16 and a two-hundred day moving average price of $74.13. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is currently 55.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYY. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.38.

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.