Linscomb Wealth Inc. Has $252,000 Stock Position in Sysco Co. (NYSE:SYY)

Linscomb Wealth Inc. reduced its position in shares of Sysco Co. (NYSE:SYY) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,290 shares of the company’s stock after selling 200 shares during the period. Linscomb Wealth Inc.’s holdings in Sysco were worth $252,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the fourth quarter worth $31,000. Focused Wealth Management Inc bought a new stake in shares of Sysco during the third quarter worth $37,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, UBS Group dropped their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Trading Up 1.1 %

NYSE:SYY opened at $75.53 on Friday. The firm has a market capitalization of $36.95 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The business’s 50-day moving average price is $73.66 and its two-hundred day moving average price is $75.65. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 business posted $0.89 EPS. On average, equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,370 shares of company stock valued at $5,965,519. 0.54% of the stock is owned by company insiders.

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.