International Assets Investment Management LLC Invests $9.50 Million in Sysco Co. (NYSE:SYY)

International Assets Investment Management LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 124,253 shares of the company’s stock, valued at approximately $9,500,000.

Other large investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its stake in 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 buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the third quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc acquired a new stake in Sysco during the 3rd quarter worth $37,000. Finally, Fairscale Capital LLC purchased a new stake in Sysco during the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SYY. 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. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

SYY traded down $0.59 during trading on Wednesday, hitting $73.96. 198,308 shares of the stock were exchanged, compared to its average volume of 1,404,748. The stock has a fifty day moving average price of $77.04 and a two-hundred day moving average price of $75.74. The firm has a market capitalization of $36.33 billion, a P/E ratio of 19.01, a PEG ratio of 2.10 and a beta of 1.18. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.