Beacon Pointe Advisors LLC Sells 31,364 Shares of Sysco Co. (NYSE:SYY)

Beacon Pointe Advisors LLC lowered its position in Sysco Co. (NYSE:SYYGet Rating) by 63.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 18,344 shares of the company’s stock after selling 31,364 shares during the period. Beacon Pointe Advisors LLC’s holdings in Sysco were worth $1,551,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Sysco during the second quarter valued at about $26,000. Charter Oak Capital Management LLC purchased a new stake in shares of Sysco during the second quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Sysco during the first quarter worth about $29,000. Adirondack Trust Co. boosted its holdings in shares of Sysco by 136.4% during the second quarter. Adirondack Trust Co. now owns 520 shares of the company’s stock worth $44,000 after purchasing an additional 300 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Sysco by 449.1% during the second quarter. Exchange Traded Concepts LLC now owns 604 shares of the company’s stock worth $51,000 after purchasing an additional 494 shares during the period. Institutional investors own 82.43% of the company’s stock.

Insider Buying and Selling at Sysco

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

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Stephens initiated 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. Argus raised their price objective on shares of Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Morgan Stanley raised their price objective on shares of Sysco from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. Credit Suisse Group decreased their target price on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Finally, Truist Financial decreased their target price on shares of Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Sysco Trading Down 0.2 %

Shares of Sysco stock opened at $86.06 on Thursday. The company’s fifty day simple moving average is $79.14 and its 200-day simple moving average is $82.22. The stock has a market capitalization of $43.61 billion, a PE ratio of 30.52, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53. The company has a debt-to-equity ratio of 9.20, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco Announces Dividend

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

Sysco Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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