Summit Financial Wealth Advisors LLC Has $7.94 Million Stock Position in Sysco Co. (NYSE:SYY)

Summit Financial Wealth Advisors LLC boosted its position in Sysco Co. (NYSE:SYY) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,774 shares of the company’s stock after buying an additional 651 shares during the quarter. Sysco makes up about 1.5% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 24th biggest position. Summit Financial Wealth Advisors LLC’s holdings in Sysco were worth $7,944,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new stake in shares of Sysco in the first quarter worth $658,000. California State Teachers Retirement System grew its position in Sysco by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 847,265 shares of the company’s stock worth $68,781,000 after purchasing an additional 11,244 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Sysco by 39.2% during the 1st quarter. Beacon Capital Management LLC now owns 764 shares of the company’s stock worth $62,000 after purchasing an additional 215 shares during the period. iA Global Asset Management Inc. raised its position in shares of Sysco by 72.1% during the first quarter. iA Global Asset Management Inc. now owns 33,102 shares of the company’s stock valued at $2,687,000 after buying an additional 13,867 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in shares of Sysco by 15,811.1% in the first quarter. Plato Investment Management Ltd now owns 10,024 shares of the company’s stock valued at $814,000 after buying an additional 9,961 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the 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 directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $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. Insiders own 0.54% of the company’s stock.

Sysco Trading Up 1.5 %

Shares of NYSE SYY opened at $76.89 on Tuesday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. 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 company has a 50-day moving average of $75.68 and a two-hundred day moving average of $74.75. The company has a market cap of $37.77 billion, a PE ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 1.20.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

Several research firms have commented on SYY. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. 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 data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

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.