7,580 Shares of Sysco Corporation $SYY Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new stake in Sysco Corporation (NYSE:SYY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,580 shares of the company’s stock, valued at approximately $602,000.

A number of other hedge funds also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the second quarter valued at approximately $29,000. Salomon & Ludwin LLC lifted its position in Sysco by 718.6% in the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 309 shares during the period. Sunbelt Securities Inc. lifted its position in Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 170 shares during the period. Markowski Investments bought a new position in Sysco in the second quarter worth $31,000. Finally, Parvin Asset Management LLC acquired a new stake in Sysco during the second quarter worth $32,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SYY shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sysco from $86.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Bank of America increased their price objective on shares of Sysco from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Morgan Stanley raised their price objective on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Sysco in a research report on Wednesday, November 4th. Finally, Weiss Ratings cut shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $91.13.

Sysco Trading Down 1.0%

Shares of SYY opened at $77.57 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 3.18. The stock has a market cap of $38.19 billion, a PE ratio of 20.63, a PEG ratio of 1.92 and a beta of 0.66. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a 50 day simple moving average of $79.75 and a 200-day simple moving average of $80.51.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Sysco had a return on equity of 79.24% and a net margin of 2.12%. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. During the same quarter in the previous year, the firm earned $1.15 EPS. Sysco’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Sysco Corporation will post 5.06 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, October 2nd. Sysco’s payout ratio is currently 58.51%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 960 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the sale, the executive vice president owned 49,852 shares in the company, valued at $4,137,716. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $76.62 per share, with a total value of $191,550.00. Following the completion of the acquisition, the director directly owned 2,500 shares in the company, valued at $191,550. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 8,873 shares of company stock worth $741,569 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Sysco Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.