Sysco Co. (NYSE:SYY) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,821 shares of the company’s stock after selling 717 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Sysco were worth $827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MV Capital Management Inc. raised its stake in Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after acquiring an additional 144 shares in the last quarter. Morton Community Bank grew its holdings in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares during the last quarter. Nemes Rush Group LLC grew its holdings in shares of Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its holdings in Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYY shares. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group cut their price target on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Sysco Price Performance

Shares of SYY stock opened at $71.08 on Thursday. The firm has a market cap of $34.46 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a 50-day moving average price of $71.92 and a 200 day moving average price of $74.07.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

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.