Kestra Advisory Services LLC Purchases 9,531 Shares of Sysco Corporation $SYY

Kestra Advisory Services LLC raised its position in Sysco Corporation (NYSE:SYY) by 13.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,158 shares of the company’s stock after purchasing an additional 9,531 shares during the quarter. Kestra Advisory Services LLC’s holdings in Sysco were worth $6,249,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Sysco during the second quarter valued at approximately $3,596,356,000. Bank of America Corp DE acquired a new stake in Sysco in the second quarter valued at approximately $482,589,000. Dimensional Fund Advisors LP grew its position in Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock worth $332,871,000 after acquiring an additional 59,685 shares in the last quarter. Primecap Management Co. CA bought a new stake in Sysco in the second quarter worth approximately $313,503,000. Finally, Bank of New York Mellon Corp bought a new stake in Sysco in the second quarter worth approximately $273,323,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 0.9%

Sysco stock opened at $76.92 on Thursday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.95 and a current ratio of 1.46. The firm has a market capitalization of $37.86 billion, a PE ratio of 16.69, a PEG ratio of 1.91 and a beta of 0.66. The business’s 50-day simple moving average is $79.65 and its 200-day simple moving average is $80.51.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share 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 firm had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $22.02 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Sysco Corporation will post 5.06 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s payout ratio is presently 58.51%.

Insider Transactions at Sysco

In other news, Director Thomas Gerard Ondrof purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $76.62 per share, for a total transaction of $191,550.00. Following the completion of the purchase, the director directly owned 2,500 shares of the company’s stock, valued at approximately $191,550. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 8,873 shares of company stock valued at $741,569 in the last ninety days. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the topic of several analyst reports. Bank of America increased their target price on shares of Sysco from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Sysco in a research report on Wednesday, September 16th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Sysco in a research report on Wednesday, November 4th. BMO Capital Markets upped their price target on Sysco from $90.00 to $98.00 in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.13.

Sysco Company 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.