Prospera Private Wealth LLC Invests $1.87 Million in Sysco Co. (NYSE:SYY)

Prospera Private Wealth LLC purchased a new stake in Sysco Co. (NYSE:SYY) during the third quarter, Holdings Channel reports. The institutional investor purchased 24,003 shares of the company’s stock, valued at approximately $1,874,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in Sysco in the second quarter worth $25,000. Armstrong Advisory Group Inc. increased its position in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco during the 3rd quarter worth $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco in the third quarter valued at about $37,000. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction 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 owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Sysco Trading Down 1.8 %

Shares of Sysco stock opened at $74.40 on Wednesday. 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 has a 50-day moving average of $75.79 and a 200-day moving average of $74.75. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The stock has a market cap of $36.55 billion, a PE ratio of 19.13, a PEG ratio of 1.97 and a beta of 1.20.

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

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Barclays lifted their price target 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. JPMorgan Chase & Co. increased their price objective 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 cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

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.