Crewe Advisors LLC Decreases Stake in Sysco Co. (NYSE:SYY)

Crewe Advisors LLC decreased its position in Sysco Co. (NYSE:SYY) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,185 shares of the company’s stock after selling 301 shares during the period. Crewe Advisors LLC’s holdings in Sysco were worth $91,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the 3rd quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the 3rd quarter valued at approximately $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. Truist Financial reduced their target price 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 reduced their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.38.

Insider Activity

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 0.3 %

Shares of NYSE:SYY opened at $71.20 on Friday. The firm has a fifty day moving average price of $76.00 and a two-hundred day moving average price of $75.95. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company has a market cap of $34.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.93 and a beta of 1.18.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Sysco Profile

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.