Avion Wealth Has $366,000 Holdings in Sysco Co. (NYSE:SYY)

Avion Wealth raised its stake in shares of Sysco Co. (NYSE:SYY) by 7.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,791 shares of the company’s stock after purchasing an additional 345 shares during the period. Avion Wealth’s holdings in Sysco were worth $366,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco during the 4th quarter valued at about $31,000. Finally, Focused Wealth Management Inc purchased a new position in shares of Sysco during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock valued at $6,181,946 over the last quarter. 0.54% of the stock is owned by insiders.

Sysco Stock Performance

SYY opened at $70.57 on Wednesday. The firm has a market capitalization of $34.53 billion, a PE ratio of 18.14, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm has a 50 day moving average of $75.65 and a two-hundred day moving average of $75.94. 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 EPS. On average, analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

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.