Quent Capital LLC Decreases Position in Sysco Co. (NYSE:SYY)

Quent Capital LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,605 shares of the company’s stock after selling 541 shares during the period. Quent Capital LLC’s holdings in Sysco were worth $123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter valued at $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco during the 3rd quarter valued at $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % 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 worth $6,181,946 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $70.16 on Thursday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market capitalization of $34.32 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.88 and a beta of 1.17. The business’s 50-day moving average is $75.47 and its two-hundred day moving average is $75.93.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 quarter in the previous year, the firm posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYY. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

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.