Benjamin Edwards Inc. decreased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 41.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,050 shares of the company's stock after selling 6,515 shares during the quarter. Benjamin Edwards Inc.'s holdings in Sysco were worth $679,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in SYY. Rockefeller Capital Management L.P. increased its position in shares of Sysco by 5.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 60,489 shares of the company's stock worth $4,627,000 after purchasing an additional 2,917 shares in the last quarter. Townsquare Capital LLC increased its position in Sysco by 3.4% in the 4th quarter. Townsquare Capital LLC now owns 19,400 shares of the company's stock valued at $1,483,000 after acquiring an additional 642 shares in the last quarter. Jump Financial LLC increased its position in Sysco by 3.4% in the 4th quarter. Jump Financial LLC now owns 12,413 shares of the company's stock valued at $949,000 after acquiring an additional 403 shares in the last quarter. NFJ Investment Group LLC increased its position in Sysco by 13.3% in the 4th quarter. NFJ Investment Group LLC now owns 38,172 shares of the company's stock valued at $2,919,000 after acquiring an additional 4,493 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Sysco in the 4th quarter valued at about $2,021,000. Institutional investors and hedge funds own 83.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on SYY shares. Bank of America raised their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Guggenheim raised their target price on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Truist Financial raised their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.69.
Read Our Latest Stock Analysis on Sysco
Insider Buying and Selling
In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco 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 sale, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,740 shares of company stock worth $6,256,893 over the last quarter. 0.54% of the stock is owned by corporate insiders.
Sysco Stock Performance
Shares of SYY stock opened at $81.25 on Friday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market capitalization of $39.38 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.55 and a beta of 0.83. The company's 50 day moving average price is $77.55 and its two-hundred day moving average price is $74.08. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.64.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period last year, the company earned $1.39 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.
About Sysco
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

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