Sigma Planning Corp Sells 11,762 Shares of Sysco Co. (NYSE:SYY)

Sigma Planning Corp lowered its position in shares of Sysco Co. (NYSE:SYY) by 41.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,403 shares of the company’s stock after selling 11,762 shares during the period. Sigma Planning Corp’s holdings in Sysco were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SYY. AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the period. BluePath Capital Management LLC bought a new position in shares of Sysco during the third quarter worth approximately $38,000. Milestone Investment Advisors LLC bought a new position in shares of Sysco during the third quarter worth approximately $40,000. Finally, AllSquare Wealth Management LLC bought a new position in Sysco during the 3rd quarter worth $42,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.

Sysco Trading Up 0.8 %

Shares of SYY opened at $77.33 on Tuesday. The firm has a market cap of $38.50 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The business’s fifty day moving average is $79.33 and its 200-day moving average is $74.55. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Equities analysts anticipate that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is 48.90%.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. Barclays raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.38.

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.