First Nebraska Trust Co Takes $156.70 Million Position in Sysco Corporation $SYY

Key Points

• First Nebraska Trust Co. acquired 2.20 million Sysco shares worth approximately $156.7 million, making Sysco its largest holding at 14.5% of the portfolio and representing 0.46% of Sysco’s outstanding stock.
• Analyst sentiment is mixed: Sysco has an overall “Hold” consensus rating with a $88 price target, while several firms recently downgraded the stock or reduced their targets.
• Sysco shares opened at $85.31, near the upper half of their 52-week range, and a company director purchased more than $1 million in shares in May; institutional investors own 83.41% of the stock.

First Nebraska Trust Co purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,196,796 shares of the company's stock, valued at approximately $156,697,000. Sysco accounts for 14.5% of First Nebraska Trust Co's holdings, making the stock its largest position. First Nebraska Trust Co owned 0.46% of Sysco at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new stake in shares of Sysco during the 4th quarter valued at about $25,000. Motiv8 Investments LLC bought a new position in shares of Sysco during the 4th quarter valued at $25,000. Sunbelt Securities Inc. increased its holdings in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after buying an additional 170 shares during the period. Torren Management LLC purchased a new position in Sysco in the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. purchased a new stake in Sysco during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein lowered their target price on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Tuesday, April 28th. Finally, Barclays decreased their price objective on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of "Hold" and a consensus price target of $88.00.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company's stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company's stock.

Sysco Stock Up 0.7%

SYY stock opened at $85.31 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The stock has a market cap of $40.84 billion, a P/E ratio of 23.63, a PEG ratio of 3.36 and a beta of 0.64. The business's 50-day moving average price is $80.46 and its 200-day moving average price is $80.14.

Sysco Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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