Steward Partners Investment Advisory LLC Takes Position in Sysco Corporation (SYY)

Steward Partners Investment Advisory LLC bought a new stake in Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,432 shares of the company’s stock, valued at approximately $886,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Visionary Asset Management Inc. purchased a new position in Sysco during the third quarter worth approximately $207,000. Garde Capital Inc. purchased a new position in Sysco during the third quarter worth approximately $777,000. Smith Shellnut Wilson LLC ADV lifted its position in Sysco by 53.0% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 13,125 shares of the company’s stock worth $708,000 after buying an additional 4,546 shares in the last quarter. Americafirst Capital Management LLC lifted its position in Sysco by 237.7% during the third quarter. Americafirst Capital Management LLC now owns 32,225 shares of the company’s stock worth $1,739,000 after buying an additional 22,682 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in Sysco during the third quarter worth approximately $434,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

In other news, CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the sale, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $61.76, for a total value of $481,728.00. Following the completion of the sale, the executive vice president now directly owns 55,235 shares of the company’s stock, valued at $3,411,313.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,827,867 shares of company stock valued at $98,744,178. 9.60% of the stock is currently owned by company insiders.

Shares of Sysco Corporation (SYY) traded up $0.05 during midday trading on Friday, hitting $60.95. The stock had a trading volume of 5,965,626 shares, compared to its average volume of 2,575,291. Sysco Corporation has a twelve month low of $48.85 and a twelve month high of $62.79. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. The firm has a market capitalization of $31,732.33, a PE ratio of 23.88, a PEG ratio of 2.61 and a beta of 0.54.

Sysco (NYSE:SYY) last released its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. Sysco had a return on equity of 58.47% and a net margin of 2.12%. Sysco’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. analysts expect that Sysco Corporation will post 2.78 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This is a positive change from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 2.36%. Sysco’s dividend payout ratio (DPR) is 60.00%.

A number of brokerages recently commented on SYY. BMO Capital Markets set a $66.00 price objective on Sysco and gave the stock a “buy” rating in a research report on Friday, December 8th. Pivotal Research lifted their price objective on Sysco from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital raised their target price on Sysco to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Zacks Investment Research raised Sysco from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $58.55.

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Sysco Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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