4,300 Shares in Sysco Corporation (NYSE:SYY) Acquired by RiverGlades Family Offices LLC

RiverGlades Family Offices LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY) in the 1st quarter, Holdings Channel.com reports. The firm purchased 4,300 shares of the company’s stock, valued at approximately $323,000.

Several other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC grew its holdings in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Sysco during the 4th quarter worth $29,000. Golden State Wealth Management LLC grew its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco during the 1st quarter worth $33,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Sysco during the 4th quarter worth $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. Truist Financial increased their price target on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. BMO Capital Markets lowered their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Sysco Stock Performance

Shares of Sysco stock opened at $81.35 on Thursday. The firm has a market capitalization of $39.44 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.46 and a beta of 0.83. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm’s 50 day moving average is $76.62 and its two-hundred day moving average is $73.80.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by 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.