Dickmeyer Boyce Financial Management Inc. bought a new stake in Sysco Corporation (NYSE:SYY – Free Report) in the first quarter, Holdings Channel.com reports. The institutional investor bought 13,033 shares of the company’s stock, valued at approximately $930,000.
Several other hedge funds and other institutional investors have also modified their holdings of SYY. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new position in Sysco during the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new position in Sysco during the fourth quarter valued at approximately $27,000. Bard Associates Inc. acquired a new position in Sysco in the 4th quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC acquired a new position in Sysco in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.41% of the company’s stock.
Sysco Trading Down 0.5%
NYSE:SYY opened at $81.72 on Friday. The company’s 50 day moving average is $79.31 and its 200-day moving average is $79.71. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm has a market cap of $39.12 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 3.23 and a beta of 0.64.
Analyst Ratings Changes
SYY has been the subject of a number of research reports. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Sanford C. Bernstein lowered their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Sysco in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.00.
Check Out Our Latest Stock Report on SYY
Insider Transactions at Sysco
In other news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.
About Sysco
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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