Flagship Wealth Advisors LLC Invests $31,000 in Sysco Co. (NYSE:SYY)

Flagship Wealth Advisors LLC bought a new position in Sysco Co. (NYSE:SYY) during the fourth quarter, Holdings Channel reports. The firm bought 400 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently modified their holdings of the stock. Terra Alpha Investments LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $1,454,000. Signaturefd LLC boosted its position in Sysco by 8.0% during the fourth quarter. Signaturefd LLC now owns 6,110 shares of the company’s stock worth $467,000 after purchasing an additional 452 shares in the last quarter. Parallel Advisors LLC boosted its position in Sysco by 12.3% during the fourth quarter. Parallel Advisors LLC now owns 5,640 shares of the company’s stock worth $431,000 after purchasing an additional 619 shares in the last quarter. Cibc World Markets Corp boosted its position in Sysco by 14.8% during the fourth quarter. Cibc World Markets Corp now owns 192,737 shares of the company’s stock worth $14,737,000 after purchasing an additional 24,785 shares in the last quarter. Finally, SlateStone Wealth LLC boosted its position in Sysco by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,420 shares of the company’s stock worth $797,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $74.25 on Wednesday. Sysco Co. has a one year low of $69.03 and a one year 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 stock has a market cap of $36.33 billion, a PE ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 1.11. The stock has a 50 day moving average price of $73.27 and a 200 day moving average price of $75.46.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Barclays lowered their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction 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 owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

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.