Summit Financial Cuts Sysco Stake: What the $7 Million Sale Says About the Food Distribution Giant's Outlook

Summit Financial Wealth Advisors, LLC disclosed in a Monday filing with the Securities and Exchange Commission that it sold 101,515 shares of food distribution giant Sysco(NYSE:SYY), cutting the vast majority of its stake in the firm. According to a Monday SEC filing, Louisiana-based Summit Financial Wealth Advisors, LLC sold 101,515 shares of Sysco during the quarter ended June 30. The estimated transaction value was $7.4 million based on the average closing price for the quarter. The fund’s remaining Sysco holding totaled 4,295 shares, worth $325,266, meaning the firm cut about 95% of its stake.The transaction reduced the Sysco position to 0.1% of fund AUM, down from 1.6% in the prior quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool