Kingsview Wealth Management LLC Sells 3,686 Shares of Sysco Co. (NYSE:SYY)

Kingsview Wealth Management LLC lowered its stake in Sysco Co. (NYSE:SYY – Get Rating) by 23.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,056 shares of the company’s stock after selling 3,686 shares during the period. Kingsview Wealth Management LLC’s holdings in Sysco were worth $852,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Standard Family Office LLC bought a new position in shares of Sysco in the third quarter worth $25,000. Karp Capital Management Corp bought a new position in shares of Sysco in the third quarter worth $27,000. American National Bank increased its position in shares of Sysco by 397.6% in the third quarter. American National Bank now owns 408 shares of the company’s stock worth $29,000 after purchasing an additional 326 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Sysco in the third quarter worth $32,000. Finally, Focused Wealth Management Inc increased its position in shares of Sysco by 128.7% in the third quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 81.18% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $74.66 on Wednesday. The business’s 50-day moving average price is $77.27 and its 200-day moving average price is $79.20. Sysco Co. has a 12 month low of $70.61 and a 12 month high of $91.53. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.42 and a beta of 1.10. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 7.20.

Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). Sysco had a net margin of 1.93% and a return on equity of 140.94%. The firm had revenue of $18.59 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.04 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s dividend payout ratio is currently 70.76%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Sysco from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 1st. TheStreet cut Sysco from a “b” rating to a “c+” rating in a research report on Tuesday, January 31st. Credit Suisse Group decreased their target price on Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 1st. Stephens reiterated an “overweight” rating and issued a $90.00 target price on shares of Sysco in a research report on Friday, January 13th. Finally, Wells Fargo & Company decreased their target price on Sysco from $95.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 4th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.67.

Sysco Profile

(Get Rating)

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.