CPA Asset Management LLC Sells 6,355 Shares of Sysco Co. (NYSE:SYY)

CPA Asset Management LLC decreased its position in Sysco Co. (NYSE:SYY) by 26.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,471 shares of the company’s stock after selling 6,355 shares during the quarter. Sysco makes up approximately 0.6% of CPA Asset Management LLC’s portfolio, making the stock its 28th largest holding. CPA Asset Management LLC’s holdings in Sysco were worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Fortem Financial Group LLC raised its position in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares during the period. S.A. Mason LLC raised its position in shares of Sysco by 10.7% in the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after purchasing an additional 150 shares during the period. Cable Hill Partners LLC raised its position in shares of Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group increased its position in Sysco by 12.3% during the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after acquiring an additional 154 shares during the period. Finally, Howard Capital Management Inc. increased its position in Sysco by 5.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after acquiring an additional 162 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYY. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,370 shares of company stock worth $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.1 %

Shares of NYSE:SYY opened at $74.49 on Wednesday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company’s fifty day moving average is $73.78 and its 200-day moving average is $75.66. The company has a market capitalization of $36.44 billion, a PE ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its 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 firm posted $0.89 EPS. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

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.