Kingsview Wealth Management LLC Has $2.80 Million Holdings in Sysco Co. (NYSE:SYY)

Kingsview Wealth Management LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,826 shares of the company’s stock after selling 244 shares during the period. Kingsview Wealth Management LLC’s holdings in Sysco were worth $2,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares during the period. Swedbank AB bought a new position in Sysco during the first quarter worth about $178,824,000. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the period. Ameriprise Financial Inc. grew its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Sysco during the third quarter worth approximately $137,900,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent analyst reports. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised 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 Monday, September 16th. Finally, Barclays increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

Sysco Trading Up 0.9 %

Shares of SYY stock opened at $75.79 on Monday. The stock has a 50-day moving average of $75.69 and a 200-day moving average of $74.74. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.99 and a beta of 1.20. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.69%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s 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 sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $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 corporate insiders.

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.