Latitude Advisors LLC Sells 385 Shares of Sysco Co. (NYSE:SYY)

Latitude Advisors LLC reduced its position in shares of Sysco Co. (NYSE:SYY) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,056 shares of the company’s stock after selling 385 shares during the period. Latitude Advisors LLC’s holdings in Sysco were worth $234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the fourth quarter worth $31,000. Cambiar Investors LLC increased its holdings in Sysco by 15.2% during the 4th quarter. Cambiar Investors LLC now owns 709,431 shares of the company’s stock worth $54,243,000 after purchasing an additional 93,729 shares in the last quarter. Sapient Capital LLC grew its position in Sysco by 2.0% in the 4th quarter. Sapient Capital LLC now owns 10,973 shares of the company’s stock worth $839,000 after purchasing an additional 211 shares in the last quarter. Panoramic Capital Partners LLC bought a new stake in Sysco in the fourth quarter worth about $549,000. Finally, Equitable Trust Co. grew its stake in shares of Sysco by 18.1% during the 4th quarter. Equitable Trust Co. now owns 40,572 shares of the company’s stock worth $3,102,000 after acquiring an additional 6,208 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred 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 $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Trading Down 1.5 %

Shares of Sysco stock opened at $70.07 on Tuesday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market cap of $34.28 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The firm has a fifty day moving average price of $75.78 and a 200 day moving average price of $75.96.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

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.