Valley Wealth Managers Inc. Takes Position in Sysco Co. (NYSE:SYY)

Valley Wealth Managers Inc. acquired a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 400 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at $25,000. Armstrong Advisory Group Inc. grew its holdings in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Sysco in the third quarter valued at $26,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco during the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC acquired a new position in shares of Sysco in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYY shares. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

Sysco stock opened at $74.95 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock’s fifty day moving average price is $75.93 and its two-hundred day moving average price is $74.73. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market cap of $36.82 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

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.