SeaCrest Wealth Management LLC Decreases Holdings in Sysco Co. (NYSE:SYY)

SeaCrest Wealth Management LLC decreased its stake in Sysco Co. (NYSE:SYY) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 4,865 shares of the company’s stock after selling 190 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Sysco were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC increased its stake in Sysco by 52.5% during the 4th quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock worth $591,000 after buying an additional 2,784 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Sysco by 30.7% during the fourth quarter. Nomura Holdings Inc. now owns 21,326 shares of the company’s stock worth $1,560,000 after purchasing an additional 5,011 shares in the last quarter. GAMMA Investing LLC raised its stake in Sysco by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 4,127 shares of the company’s stock valued at $335,000 after purchasing an additional 502 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Sysco by 479.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 9,826 shares of the company’s stock valued at $798,000 after purchasing an additional 8,131 shares during the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in Sysco during the 1st quarter worth $105,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $75.38 on Friday. The stock has a market cap of $37.03 billion, a PE ratio of 19.38, a P/E/G ratio of 1.96 and a beta of 1.20. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The stock has a fifty day simple moving average of $76.56 and a 200-day simple moving average of $74.96. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter last year, the firm posted $1.34 earnings per share. Sysco’s revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYY. JPMorgan Chase & Co. increased their target price 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. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.