Tyche Wealth Partners LLC Invests $361,000 in Sysco Co. (NYSE:SYY)

Tyche Wealth Partners LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,932 shares of the company’s stock, valued at approximately $361,000.

A number of other large investors have also added to or reduced their stakes in SYY. Moneta Group Investment Advisors LLC grew its holdings in Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock valued at $532,666,000 after purchasing an additional 6,957,665 shares in the last quarter. Norges Bank bought a new position in Sysco during the 4th quarter valued at $397,373,000. Morgan Stanley boosted its stake in Sysco by 34.8% during the 4th quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock valued at $493,859,000 after acquiring an additional 1,666,008 shares during the last quarter. Imprint Wealth LLC boosted its stake in Sysco by 7,204.3% during the 2nd quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company’s stock valued at $129,381,000 after acquiring an additional 1,276,096 shares during the last quarter. Finally, Trian Fund Management L.P. bought a new position in Sysco during the 3rd quarter valued at $80,812,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $75.44 on Thursday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a 50-day moving average of $79.52 and a two-hundred day moving average of $74.23. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.55 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYY shares. BMO Capital Markets increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Barclays raised their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

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.