Summit Financial Wealth Advisors LLC Has $7.12 Million Stock Position in Sysco Co. (NYSE:SYY)

Summit Financial Wealth Advisors LLC decreased its position in Sysco Co. (NYSE:SYYFree Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,402 shares of the company’s stock after selling 1,413 shares during the period. Sysco makes up 1.6% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 23rd largest position. Summit Financial Wealth Advisors LLC’s holdings in Sysco were worth $7,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Occidental Asset Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at $207,000. Gradient Investments LLC lifted its position in Sysco by 1.8% during the 4th quarter. Gradient Investments LLC now owns 222,379 shares of the company’s stock worth $16,263,000 after buying an additional 4,031 shares in the last quarter. Caprock Group LLC lifted its position in Sysco by 7.5% during the 4th quarter. Caprock Group LLC now owns 9,005 shares of the company’s stock worth $659,000 after buying an additional 630 shares in the last quarter. Retirement Financial Solutions LLC bought a new stake in Sysco during the 4th quarter worth about $298,000. Finally, Blue Trust Inc. lifted its position in Sysco by 21.7% during the 4th quarter. Blue Trust Inc. now owns 3,124 shares of the company’s stock worth $228,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SYY shares. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Barclays boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Get Our Latest Report on SYY

Sysco Stock Performance

Sysco stock opened at $81.18 on Friday. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The business has a 50 day moving average of $79.80 and a 200-day moving average of $73.44. The company has a market capitalization of $40.41 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.66 and a beta of 1.16.

Sysco (NYSE:SYYGet Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. On average, equities research analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is 48.90%.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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