Cetera Advisor Networks LLC Has $3.55 Million Holdings in Sysco Co. (NYSE:SYY)

Cetera Advisor Networks LLC cut its position in shares of Sysco Co. (NYSE:SYYGet Rating) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,947 shares of the company’s stock after selling 657 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Sysco were worth $3,553,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SYY. CFS Investment Advisory Services LLC grew its holdings in Sysco by 8,046.2% in the first quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock worth $25,000 after purchasing an additional 2,024,741 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Sysco in the second quarter valued at $26,000. Charter Oak Capital Management LLC bought a new position in shares of Sysco in the second quarter valued at $27,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Sysco in the first quarter valued at $29,000. Finally, Adirondack Trust Co. lifted its stake in shares of Sysco by 136.4% in the second quarter. Adirondack Trust Co. now owns 520 shares of the company’s stock valued at $44,000 after buying an additional 300 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 12,000 shares of Sysco 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 transaction, the executive vice president now owns 40,931 shares in the company, valued at $3,479,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Kevin Hourican sold 75,019 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 303,643 shares of the company’s stock, valued at $24,661,884.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the transaction, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at approximately $3,479,135. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Barclays dropped their price target on shares of Sysco from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Argus raised their price target on shares of Sysco from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 2nd. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 18th. Finally, Credit Suisse Group dropped their price target on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Sysco Price Performance

SYY opened at $86.06 on Thursday. The company has a market capitalization of $43.61 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 9.20. The firm has a 50-day moving average price of $79.14 and a 200-day moving average price of $82.22. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53.

Sysco Announces Dividend

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

Sysco 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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