Avantax Advisory Services Inc. Has $1.28 Million Position in Sysco Co. (NYSE:SYY)

Avantax Advisory Services Inc. lessened its stake in Sysco Co. (NYSE:SYYFree Report) by 13.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,429 shares of the company’s stock after selling 3,071 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sysco were worth $1,283,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in Sysco by 1.7% in the second quarter. BlackRock Inc. now owns 32,931,823 shares of the company’s stock worth $2,443,541,000 after buying an additional 549,086 shares during the last quarter. State Street Corp grew its position in shares of Sysco by 1.5% in the second quarter. State Street Corp now owns 24,451,298 shares of the company’s stock valued at $1,814,286,000 after purchasing an additional 357,246 shares in the last quarter. Parnassus Investments LLC grew its position in shares of Sysco by 0.4% in the second quarter. Parnassus Investments LLC now owns 13,660,024 shares of the company’s stock valued at $1,013,574,000 after purchasing an additional 57,317 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Sysco by 2.6% in the second quarter. Geode Capital Management LLC now owns 9,139,393 shares of the company’s stock valued at $676,047,000 after purchasing an additional 229,696 shares in the last quarter. Finally, Longview Partners Guernsey LTD grew its position in shares of Sysco by 10.7% in the second quarter. Longview Partners Guernsey LTD now owns 8,082,858 shares of the company’s stock valued at $599,748,000 after purchasing an additional 784,549 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stephens lifted their price target on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Morgan Stanley lifted their price target on Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 1st. BMO Capital Markets lifted their price target on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.44.

Get Our Latest Analysis on SYY

Insiders Place Their Bets

In other news, Director Sheila Talton sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $71.76, for a total value of $157,872.00. Following the sale, the director now directly owns 12,782 shares of the company’s stock, valued at approximately $917,236.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Sysco Stock Down 0.9 %

SYY opened at $79.67 on Thursday. The company has a market cap of $40.18 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.63 and a beta of 1.17. The business’s 50-day moving average price is $75.20 and its 200-day moving average price is $71.32. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the previous year, the business earned $0.80 EPS. Sysco’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, January 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. Sysco’s dividend payout ratio (DPR) is 48.90%.

Sysco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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