Stonebridge Financial Group LLC Purchases New Shares in Sysco Co. (NYSE:SYY)

Stonebridge Financial Group LLC acquired a new position in Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 399 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. raised its stake in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after acquiring an additional 168,163 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.1 %

SYY opened at $71.10 on Friday. The firm’s 50 day simple moving average is $75.07 and its two-hundred day simple moving average is $75.86. The company has a market capitalization of $34.78 billion, a PE ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYY. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Barclays dropped 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. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Company Profile

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.