Sysco Co. (NYSE:SYY) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in shares of Sysco Co. (NYSE:SYY) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 619,682 shares of the company’s stock after selling 1,803 shares during the period. Truist Financial Corp owned 0.12% of Sysco worth $47,858,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SYY. Aristotle Capital Management LLC boosted its stake in shares of Sysco by 422.4% during the 4th quarter. Aristotle Capital Management LLC now owns 11,444,739 shares of the company’s stock worth $874,950,000 after purchasing an additional 9,253,988 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Sysco by 144.3% in the fourth quarter. Parnassus Investments LLC now owns 13,076,228 shares of the company’s stock worth $999,678,000 after acquiring an additional 7,723,075 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Sysco by 70,686.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after acquiring an additional 6,957,665 shares during the last quarter. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter worth approximately $397,373,000. Finally, Morgan Stanley boosted its position in shares of Sysco by 34.8% in the fourth quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock worth $493,859,000 after acquiring an additional 1,666,008 shares during the last quarter. 84.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYY. Barclays raised their target price on shares of Sysco from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday. TheStreet raised shares of Sysco from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Credit Suisse Group decreased their target price on shares of Sysco from $94.00 to $88.00 in a research report on Wednesday, May 3rd. Stephens reaffirmed an “overweight” rating and set a $90.00 price target on shares of Sysco in a research report on Tuesday, August 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target on shares of Sysco in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.91.

Sysco Stock Down 0.6 %

Shares of NYSE:SYY opened at $73.79 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 5.15. The company has a fifty day simple moving average of $73.57 and a 200 day simple moving average of $74.98. The firm has a market cap of $37.39 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11. Sysco Co. has a 12-month low of $69.22 and a 12-month high of $87.41.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $19.73 billion during the quarter, compared to analyst estimates of $19.95 billion. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.29 EPS for the current fiscal year.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.