Busey Wealth Management Cuts Stock Holdings in Sysco Co. (NYSE:SYY)
Posted On March 25, 2022
Busey Wealth Management lowered its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,224 shares of the company’s stock after selling 140 shares during the quarter. Busey Wealth Management’s holdings in Sysco were worth $3,395,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new position in shares of Sysco during the third quarter worth $36,000. Glassman Wealth Services boosted its stake in Sysco by 69.6% in the third quarter. Glassman Wealth Services now owns 631 shares of the company’s stock valued at $50,000 after acquiring an additional 259 shares in the last quarter. Avion Wealth boosted its stake in Sysco by 27.0% in the third quarter. Avion Wealth now owns 942 shares of the company’s stock valued at $74,000 after acquiring an additional 200 shares in the last quarter. Ahrens Investment Partners LLC acquired a new position in Sysco in the fourth quarter valued at $74,000. Finally, CVA Family Office LLC boosted its stake in Sysco by 230.8% in the fourth quarter. CVA Family Office LLC now owns 1,075 shares of the company’s stock valued at $84,000 after acquiring an additional 750 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Greg D. Bertrand sold 75,526 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $85.43, for a total transaction of $6,452,186.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Anita A. Zielinski sold 3,611 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $84.00, for a total transaction of $303,324.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,382 shares of company stock valued at $9,513,621. Corporate insiders own 0.31% of the company’s stock.
Several brokerages have recently weighed in on SYY. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, December 17th. Truist Financial began coverage on shares of Sysco in a research note on Tuesday, February 1st. They set a “buy” rating and a $89.00 target price for the company. CL King began coverage on shares of Sysco in a research note on Friday, March 11th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Sysco in a research note on Tuesday, January 4th. They set a “hold” rating and a $82.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Sysco from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $88.75.
NYSE SYY traded up $1.10 during trading hours on Friday, hitting $81.53. 1,350,628 shares of the stock were exchanged, compared to its average volume of 2,716,261. The company has a market cap of $41.80 billion, a price-to-earnings ratio of 53.64, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. Sysco Co. has a 12-month low of $68.05 and a 12-month high of $89.22. The stock has a 50-day moving average of $81.00 and a 200 day moving average of $78.66. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 8.68.
Sysco (NYSE:SYY – Get Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $16.32 billion during the quarter, compared to analysts’ expectations of $15.88 billion. During the same period last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. On average, equities research analysts expect that Sysco Co. will post 3.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 1st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. Sysco’s dividend payout ratio (DPR) is 123.69%.
About Sysco (Get Rating)
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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