Prospera Private Wealth LLC Acquires Shares of 24,003 Sysco Co. (NYSE:SYY)

Prospera Private Wealth LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 24,003 shares of the company’s stock, valued at approximately $1,874,000.

Other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in shares of Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in Sysco during the third quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at about $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco during the 3rd quarter worth about $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.77.

Sysco Price Performance

Shares of Sysco stock opened at $74.40 on Wednesday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The firm’s 50-day moving average price is $75.79 and its two-hundred day moving average price is $74.75. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. On average, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Sysco 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.