Sysco Co. (NYSE:SYY) Stock Position Cut by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,175 shares of the company’s stock after selling 793 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Sysco were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $34,000. BluePath Capital Management LLC bought a new stake in shares of Sysco in the 3rd quarter worth approximately $38,000. Milestone Investment Advisors LLC acquired a new stake in Sysco during the third quarter valued at approximately $40,000. Finally, AllSquare Wealth Management LLC bought a new stake in Sysco during the third quarter worth approximately $42,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $75.36 on Friday. The company has a market capitalization of $37.53 billion, a PE ratio of 18.38, a PEG ratio of 1.89 and a beta of 1.16. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34. The company’s 50 day moving average price is $78.76 and its 200 day moving average price is $75.09. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company earned $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens boosted their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Barclays lifted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.56.

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.