Benedict Financial Advisors Inc. Grows Stock Holdings in Sysco Corporation (NYSE:SYY)

Benedict Financial Advisors Inc. grew its stake in shares of Sysco Corporation (NYSE:SYY) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,073 shares of the company’s stock after buying an additional 551 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Sysco were worth $4,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC raised its position in Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock valued at $226,000 after purchasing an additional 139 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. MV Capital Management Inc. lifted its holdings in Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after buying an additional 144 shares during the period. Nemes Rush Group LLC lifted its holdings in Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after buying an additional 147 shares during the period. Finally, One Wealth Advisors LLC lifted its holdings in Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company’s stock worth $353,000 after buying an additional 151 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 1.0%

Shares of SYY stock opened at $79.94 on Friday. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The firm has a fifty day moving average price of $75.25 and a 200-day moving average price of $73.44. The company has a market cap of $38.75 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.41 and a beta of 0.81.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Barclays decreased their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Guggenheim reissued a “buy” rating and issued a $82.00 target price on shares of Sysco in a research report on Tuesday, July 8th. Finally, Morgan Stanley upped their price target on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.23.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,962 shares of company stock worth $6,271,305. 0.54% of the stock is owned by corporate 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.