Bryn Mawr Trust Advisors LLC bought a new position in Sysco Corporation (NYSE:SYY – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 26,600 shares of the company’s stock, valued at approximately $2,223,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. boosted its position in shares of Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after acquiring an additional 123 shares during the last quarter. United Community Bank lifted its stake in Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after purchasing an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares during the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the last quarter. Finally, Arax Advisory Partners grew its position in shares of Sysco by 2.4% during the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.
Sysco Stock Performance
Sysco stock opened at $82.94 on Friday. The company’s 50-day moving average price is $82.21 and its 200-day moving average price is $80.62. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The company has a market cap of $39.71 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.
Insiders Place Their Bets
In related news, EVP Ronald L. Phillips sold 367 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president directly owned 38,650 shares in the company, valued at $3,223,023.50. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on SYY. Citigroup boosted their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Tuesday, April 28th. Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Finally, Piper Sandler increased their target price on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.50.
Read Our Latest Analysis on SYY
Sysco Profile
Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.
Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.
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