Fiduciary Family Office LLC Buys Shares of 9,117 Sysco Corporation (NYSE:SYY)

Key Points

• Fiduciary Family Office LLC purchased 9,117 shares of Sysco Corporation worth approximately $684,000, indicating strong interest from institutional investors.
• Sysco's stock has received several upgrades from analysts, with price targets ranging from $77 to $87, and currently holds an average rating of "Moderate Buy".
• Executives at Sysco have sold significant amounts of stock recently, with transactions totaling over $6 million, signaling potential shifts in insider confidence.

Fiduciary Family Office LLC acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,117 shares of the company's stock, valued at approximately $684,000.

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

Analyst Ratings Changes

SYY has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays increased their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Stock Down 1.0%

SYY traded down $0.81 during trading hours on Monday, reaching $79.84. 3,373,961 shares of the stock traded hands, compared to its average volume of 3,355,881. The firm's fifty day simple moving average is $77.07 and its two-hundred day simple moving average is $73.94. The company has a market cap of $38.70 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.50 and a beta of 0.83. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 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 firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the prior year, the firm posted $1.39 EPS. The firm's revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

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.