Pinnacle Wealth Management Advisory Group LLC Purchases 445 Shares of Sysco Co. (NYSE:SYY)

Pinnacle Wealth Management Advisory Group LLC grew its position in Sysco Co. (NYSE:SYY) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,312 shares of the company’s stock after buying an additional 445 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Sysco were worth $535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC purchased a new position in Sysco in the 4th quarter worth about $34,000. Milestone Investment Advisors LLC bought a new position in Sysco during the 3rd quarter valued at about $40,000. AllSquare Wealth Management LLC purchased a new stake in shares of Sysco during the 3rd quarter valued at about $42,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Sysco in the fourth quarter worth approximately $42,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock traded down $1.19 during trading hours on Wednesday, hitting $74.62. The company’s stock had a trading volume of 2,937,187 shares, compared to its average volume of 2,970,168. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The business has a 50 day moving average price of $78.44 and a two-hundred day moving average price of $75.45. The company has a market cap of $37.16 billion, a PE ratio of 18.20, a PEG ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Analysts expect that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s payout ratio is currently 49.76%.

Insider Activity at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Stephens upped their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Piper Sandler cut their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. UBS Group lowered their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, BMO Capital Markets upped their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.56.

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.