Naples Global Advisors LLC Trims Stock Position in Sysco Co. (NYSE:SYY)

Naples Global Advisors LLC lessened its position in shares of Sysco Co. (NYSE:SYY) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,845 shares of the company’s stock after selling 170 shares during the quarter. Naples Global Advisors LLC’s holdings in Sysco were worth $218,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Sysco in the fourth quarter valued at approximately $31,000. Valley Wealth Managers Inc. purchased a new stake in Sysco in the third quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new stake in Sysco in the third quarter valued at approximately $37,000. Finally, Canoe Financial LP purchased a new stake in Sysco in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.38.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $71.10 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a fifty day moving average price of $75.07 and a 200 day moving average price of $75.86. The company has a market cap of $34.78 billion, a P/E ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 company earned $0.89 earnings per share. Sell-side 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.