KCS Wealth Advisory Invests $203,000 in SYSCO Co. (SYY) Stock
KCS Wealth Advisory acquired a new position in shares of SYSCO Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,335 shares of the company’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwest Quadrant Wealth Management LLC lifted its holdings in SYSCO by 0.6% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after purchasing an additional 29 shares in the last quarter. Keel Point LLC lifted its holdings in SYSCO by 0.8% during the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after purchasing an additional 47 shares in the last quarter. First Interstate Bank lifted its holdings in SYSCO by 1.4% during the 2nd quarter. First Interstate Bank now owns 4,975 shares of the company’s stock worth $250,000 after purchasing an additional 67 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in SYSCO by 0.6% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,800 shares of the company’s stock worth $896,000 after purchasing an additional 100 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its holdings in SYSCO by 1.1% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock worth $520,000 after purchasing an additional 116 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
SYSCO Co. (SYY) opened at $61.38 on Friday. The firm has a market capitalization of $31,980.00, a PE ratio of 28.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. SYSCO Co. has a one year low of $48.85 and a one year high of $62.79.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.35%. SYSCO’s dividend payout ratio is 65.75%.
A number of analysts recently issued reports on the company. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, October 10th. BMO Capital Markets set a $66.00 target price on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Pivotal Research upped their target price on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Loop Capital upped their target price on SYSCO to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. SYSCO has a consensus rating of “Buy” and a consensus target price of $59.55.
In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $54.71, for a total transaction of $1,641,300.00. Following the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $22,251,924.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the transaction, the executive vice president now owns 58,776 shares in the company, valued at $3,224,451.36. The disclosure for this sale can be found here. Insiders have sold a total of 321,172 shares of company stock worth $18,233,905 over the last quarter. Corporate insiders own 9.60% of the company’s stock.
SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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