Kingswood Wealth Advisors LLC Sells 1,640 Shares of Sysco Corporation (NYSE:SYY)

Kingswood Wealth Advisors LLC lessened its holdings in Sysco Corporation (NYSE:SYY) by 26.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,667 shares of the company’s stock after selling 1,640 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Sysco were worth $350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after acquiring an additional 429,711 shares during the period. Invesco Ltd. increased its stake in Sysco by 5.3% in the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock valued at $1,292,751,000 after acquiring an additional 851,441 shares during the period. Boston Partners grew its stake in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC grew its stake in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after purchasing an additional 233,885 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Stock Up 1.0%

Shares of NYSE:SYY opened at $74.71 on Friday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The company’s 50-day moving average price is $72.41 and its two-hundred day moving average price is $73.54. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The firm has a market cap of $36.21 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.42 and a beta of 0.81.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period last year, the company earned $0.96 earnings per share. Sysco’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 2.89%. Sysco’s dividend payout ratio (DPR) is currently 52.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. UBS Group lowered their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.