Prospera Private Wealth LLC Buys Shares of 24,003 Sysco Co. (NYSE:SYY)

Prospera Private Wealth LLC purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,003 shares of the company's stock, valued at approximately $1,874,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Plimoth Trust Co. LLC lifted its stake in shares of Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company's stock valued at $1,610,000 after purchasing an additional 139 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company's stock valued at $383,000 after buying an additional 146 shares in the last quarter. Powers Advisory Group LLC raised its position in shares of Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company's stock worth $682,000 after purchasing an additional 149 shares during the period. Cable Hill Partners LLC lifted its stake in Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company's stock valued at $316,000 after buying an additional 152 shares in the last quarter. Finally, Arrow Financial Corp increased its position in shares of Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company's stock worth $1,427,000 after acquiring an additional 155 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 48,451 shares of the company's stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % 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 Stock Performance

Sysco stock traded down $0.58 during midday trading on Wednesday, reaching $73.82. 680,141 shares of the company's stock were exchanged, compared to its average volume of 3,143,291. 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 stock's 50-day simple moving average is $75.79 and its 200 day simple moving average is $74.75. The firm has a market cap of $36.26 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.97 and a beta of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. On average, analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYY. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average 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.