Truist Financial Corp Increases Position in Sysco Co. (NYSE:SYY)

Truist Financial Corp lifted its holdings in Sysco Co. (NYSE:SYY) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,207 shares of the company’s stock after buying an additional 3,484 shares during the period. Truist Financial Corp owned approximately 0.06% of Sysco worth $23,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new position in Sysco in the fourth quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new position in Sysco in the third quarter valued at approximately $37,000. Finally, Canoe Financial LP purchased a new position in Sysco in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SYY. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco Trading Up 1.0 %

Sysco stock opened at $70.68 on Thursday. The stock has a market cap of $34.58 billion, a P/E ratio of 18.17, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm’s fifty day moving average price is $74.27 and its 200-day moving average price is $75.72. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % 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 stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,370 shares of company stock valued at $5,965,519. 0.54% of the stock is currently owned by company insiders.

About Sysco

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.