Summit Financial Wealth Advisors LLC Purchases 651 Shares of Sysco Co. (NYSE:SYY)

Summit Financial Wealth Advisors LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,774 shares of the company’s stock after buying an additional 651 shares during the quarter. Sysco makes up 1.5% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 24th largest position. Summit Financial Wealth Advisors LLC’s holdings in Sysco were worth $7,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Plimoth Trust Co. LLC lifted its position in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the last quarter. Powers Advisory Group LLC boosted its holdings in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after acquiring an additional 149 shares in the last quarter. Cable Hill Partners LLC boosted its stake in shares of Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares in the last quarter. Finally, Arrow Financial Corp increased its stake in shares of Sysco by 0.8% in the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company dropped their target price 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. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Price Performance

Shares of NYSE SYY opened at $76.89 on Tuesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm’s 50-day simple moving average is $75.68 and its 200 day simple moving average is $74.75. The stock has a market cap of $37.77 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.99 and a beta of 1.20. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

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.