Cetera Advisor Networks LLC Sells 657 Shares of Sysco Co. (NYSE:SYY)

Cetera Advisor Networks LLC cut its holdings in shares of Sysco Co. (NYSE:SYYGet Rating) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,947 shares of the company’s stock after selling 657 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Sysco were worth $3,553,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its stake in shares of Sysco by 9.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,387 shares of the company’s stock worth $120,000 after purchasing an additional 117 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Sysco by 0.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 24,646 shares of the company’s stock worth $2,088,000 after purchasing an additional 120 shares during the last quarter. Athena Investment Management increased its stake in shares of Sysco by 4.6% during the 2nd quarter. Athena Investment Management now owns 2,745 shares of the company’s stock worth $233,000 after purchasing an additional 120 shares during the last quarter. Brinker Capital Investments LLC grew its stake in Sysco by 3.2% in the 1st quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after buying an additional 121 shares during the last quarter. Finally, Tower Bridge Advisors grew its stake in Sysco by 3.0% in the 2nd quarter. Tower Bridge Advisors now owns 4,198 shares of the company’s stock valued at $356,000 after buying an additional 123 shares during the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of Sysco stock opened at $86.06 on Thursday. The company has a 50 day moving average of $79.14 and a 200-day moving average of $82.22. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 9.20. The company has a market cap of $43.61 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 6th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, January 5th. Sysco’s payout ratio is 69.50%.

Insider Activity at Sysco

In related news, CEO Kevin Hourican sold 75,019 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $81.22, for a total value of $6,093,043.18. Following the completion of the transaction, the chief executive officer now owns 303,643 shares of the company’s stock, valued at approximately $24,661,884.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Kevin Hourican sold 75,019 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $81.22, for a total value of $6,093,043.18. Following the completion of the transaction, the chief executive officer now owns 303,643 shares of the company’s stock, valued at approximately $24,661,884.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at approximately $3,479,135. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays decreased their price target on shares of Sysco from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Argus upped their price target on shares of Sysco from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Truist Financial decreased their price target on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 18th. Finally, Stephens assumed coverage on shares of Sysco in a report on Thursday, September 22nd. They issued an “overweight” rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.00.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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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