Frontier Wealth Management LLC Decreases Position in Sysco Co. (NYSE:SYY)

Frontier Wealth Management LLC cut its stake in Sysco Co. (NYSE:SYYGet Rating) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,144 shares of the company’s stock after selling 500 shares during the quarter. Frontier Wealth Management LLC’s holdings in Sysco were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SYY. Bell Investment Advisors Inc acquired a new position in Sysco in the 3rd quarter valued at $36,000. Atticus Wealth Management LLC acquired a new position in Sysco during the fourth quarter worth $39,000. Glassman Wealth Services boosted its stake in Sysco by 69.6% during the third quarter. Glassman Wealth Services now owns 631 shares of the company’s stock worth $50,000 after buying an additional 259 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Sysco during the fourth quarter worth $58,000. Finally, Avion Wealth raised its stake in Sysco by 27.0% during the third quarter. Avion Wealth now owns 942 shares of the company’s stock worth $74,000 after purchasing an additional 200 shares during the period. 80.94% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Greg D. Bertrand sold 800 shares of Sysco stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $78.30, for a total transaction of $62,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Anita A. Zielinski sold 12,362 shares of Sysco stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $89.00, for a total transaction of $1,100,218.00. The disclosure for this sale can be found here. Insiders sold 186,400 shares of company stock worth $15,965,169 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

NYSE:SYY opened at $86.27 on Monday. The company has a fifty day simple moving average of $82.70 and a two-hundred day simple moving average of $79.32. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 8.68. The company has a market cap of $44.23 billion, a price-to-earnings ratio of 56.76, a price-to-earnings-growth ratio of 2.48 and a beta of 1.26. Sysco Co. has a 52 week low of $68.05 and a 52 week high of $89.22.

Sysco (NYSE:SYYGet Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.12). Sysco had a net margin of 1.29% and a return on equity of 82.36%. The firm had revenue of $16.32 billion during the quarter, compared to analyst estimates of $15.88 billion. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was up 41.2% compared to the same quarter last year. On average, analysts expect that Sysco Co. will post 3.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 1st will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. Sysco’s dividend payout ratio (DPR) is currently 123.69%.

A number of equities analysts have commented on the stock. Truist Financial assumed coverage on shares of Sysco in a research note on Tuesday, February 1st. They set a “buy” rating and a $89.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Sysco in a research note on Tuesday, January 4th. They set a “hold” rating and a $82.00 target price for the company. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, February 22nd. StockNews.com assumed coverage on shares of Sysco in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, CL King assumed coverage on shares of Sysco in a research note on Friday, March 11th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.89.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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