Kestra Private Wealth Services LLC Buys 23,850 Shares of Sysco Co. (NYSE:SYY)

Kestra Private Wealth Services LLC increased its stake in Sysco Co. (NYSE:SYY) by 242.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,695 shares of the company’s stock after buying an additional 23,850 shares during the period. Kestra Private Wealth Services LLC’s holdings in Sysco were worth $2,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the 3rd quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter worth about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 0.5 %

Shares of NYSE:SYY opened at $70.57 on Wednesday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a market cap of $34.53 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The stock has a 50 day moving average of $75.65 and a 200 day moving average of $75.94. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analysts Set New Price Targets

SYY has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.