Sysco Corporation $SYY Stock Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 13.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. REAP Financial Group LLC grew its position in shares of Sysco by 82.9% during the third quarter. REAP Financial Group LLC now owns 750 shares of the company’s stock worth $58,000 after acquiring an additional 340 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Sysco by 3.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 34,570 shares of the company’s stock valued at $2,695,000 after purchasing an additional 1,153 shares during the period. Richardson Financial Services Inc. boosted its stake in Sysco by 190.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 479 shares of the company’s stock valued at $37,000 after purchasing an additional 314 shares during the period. Ascent Group LLC grew its position in Sysco by 4.9% in the 3rd quarter. Ascent Group LLC now owns 8,999 shares of the company’s stock worth $702,000 after purchasing an additional 417 shares during the last quarter. Finally, Compass Financial Management LLC grew its position in Sysco by 7.6% in the 3rd quarter. Compass Financial Management LLC now owns 8,273 shares of the company’s stock worth $645,000 after purchasing an additional 584 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $76.92 on Thursday. The firm has a market cap of $37.86 billion, a PE ratio of 16.69, a P/E/G ratio of 1.91 and a beta of 0.66. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 3.18. The business has a fifty day simple moving average of $79.65 and a 200-day simple moving average of $80.51. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.19. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. Sysco had a return on equity of 79.24% and a net margin of 2.12%. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 earnings per share. As a group, equities analysts predict that Sysco Corporation will post 5.06 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.9%. Sysco’s payout ratio is currently 58.51%.

Insider Activity at Sysco

In other Sysco news, Director Thomas Gerard Ondrof purchased 2,500 shares of the stock in a transaction dated Wednesday, November 4th. The shares were acquired at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the completion of the acquisition, the director owned 2,500 shares of the company’s stock, valued at $191,550. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 960 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the transaction, the executive vice president directly owned 49,852 shares in the company, valued at $4,137,716. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 8,873 shares of company stock valued at $741,569. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. DA Davidson lifted their price target on Sysco from $89.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler increased their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. Morgan Stanley raised their target price on Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. Finally, Citigroup cut their target price on Sysco from $87.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $91.13.

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.