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

Kestra Private Wealth Services LLC lifted its holdings in Sysco Co. (NYSE:SYY) by 242.3% in the fourth quarter, Holdings Channel reports. The fund owned 33,695 shares of the company’s stock after purchasing an additional 23,850 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Sysco were worth $2,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in shares of Sysco by 185.5% in the third quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after acquiring an additional 20,356 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Sysco by 455.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,024 shares of the company’s stock worth $314,000 after purchasing an additional 3,300 shares during the period. Valeo Financial Advisors LLC lifted its stake in Sysco by 19.5% in the third quarter. Valeo Financial Advisors LLC now owns 5,272 shares of the company’s stock worth $412,000 after purchasing an additional 860 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Sysco by 147.4% during the third quarter. Exchange Traded Concepts LLC now owns 20,533 shares of the company’s stock valued at $1,603,000 after buying an additional 12,235 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in shares of Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group dropped their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Trading Up 0.5 %

Shares of NYSE:SYY opened at $70.57 on Wednesday. The company has a market capitalization of $34.53 billion, a PE ratio of 18.14, a P/E/G ratio of 1.88 and a beta of 1.17. 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 Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The business’s fifty day simple moving average is $75.65 and its 200-day simple moving average is $75.94.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm earned $0.89 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock worth $6,181,946 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Sysco Company 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.