Lederer & Associates Investment Counsel CA Sells 727 Shares of Sysco Co. (NYSE:SYY)

Lederer & Associates Investment Counsel CA cut its position in shares of Sysco Co. (NYSE:SYY) by 4.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,074 shares of the company’s stock after selling 727 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Sysco were worth $1,076,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. S.A. Mason LLC grew its holdings in shares of Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after buying an additional 150 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares in the last quarter. CENTRAL TRUST Co grew its stake in Sysco by 74.0% in the fourth quarter. CENTRAL TRUST Co now owns 5,812 shares of the company’s stock valued at $444,000 after purchasing an additional 2,471 shares in the last quarter. Western Pacific Wealth Management LP bought a new position in Sysco in the fourth quarter valued at approximately $133,000. Finally, Greenleaf Trust grew its stake in Sysco by 19.9% in the fourth quarter. Greenleaf Trust now owns 20,894 shares of the company’s stock valued at $1,598,000 after purchasing an additional 3,468 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was 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 directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $72.79 on Monday. The stock has a market cap of $35.61 billion, a P/E ratio of 18.71, a PEG ratio of 1.93 and a beta of 1.18. The stock has a 50 day simple moving average of $76.30 and a 200 day simple moving average of $76.01. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.80%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYY. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.85.

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.