Corient Private Wealth LLC Cuts Position in Sysco Co. (NYSE:SYY)

Corient Private Wealth LLC cut its stake in Sysco Co. (NYSE:SYY) by 10.8% in the 4th quarter, Holdings Channel reports. The fund owned 353,561 shares of the company’s stock after selling 43,026 shares during the quarter. Corient Private Wealth LLC’s holdings in Sysco were worth $26,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. New England Asset Management Inc. boosted its position in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the period. Buckley Wealth Management LLC boosted its position in Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after buying an additional 150 shares during the period. WR Wealth Planners LLC boosted its position in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after buying an additional 386 shares during the period. Captrust Financial Advisors boosted its position in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares during the period. Finally, Clark & Stuart Inc purchased a new stake in Sysco during the fourth quarter valued at about $7,613,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Sysco Price Performance

SYY stock opened at $74.25 on Wednesday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm has a 50-day moving average of $73.27 and a 200 day moving average of $75.46. The company has a market cap of $36.33 billion, a P/E ratio of 19.09, a PEG ratio of 1.88 and a beta of 1.11. 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 (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is 52.44%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Barclays lowered their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.