Mitchell Sinkler & Starr PA Sells 3,964 Shares of Sysco Corporation (NYSE:SYY)

Key Points

• Mitchell Sinkler & Starr PA reduced its holdings in Sysco Corporation by 40.3%, selling 3,964 shares, and now owns a total of 5,865 shares valued at approximately $440,000.
• Several large investors have modified their holdings in Sysco, including Capital Research Global Investors, which increased its stake by 27.3% during the fourth quarter.
• Sysco's stock recently reported a 0.5% increase, with a current market capitalization of $38.90 billion, despite missing quarterly earnings estimates.

Mitchell Sinkler & Starr PA cut its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 40.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,865 shares of the company's stock after selling 3,964 shares during the quarter. Mitchell Sinkler & Starr PA's holdings in Sysco were worth $440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NorthCrest Asset Manangement LLC increased its holdings in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after acquiring an additional 139 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the last quarter. MV Capital Management Inc. boosted its position in Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after purchasing an additional 144 shares during the last quarter. Nemes Rush Group LLC boosted its position in Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares during the last quarter. Finally, One Wealth Advisors LLC boosted its position in Sysco by 3.3% in the first quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after purchasing an additional 151 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY traded down $0.15 during mid-day trading on Thursday, reaching $79.96. The stock had a trading volume of 1,155,133 shares, compared to its average volume of 3,332,440. The firm has a 50 day moving average price of $75.81 and a two-hundred day moving average price of $73.59. The stock has a market capitalization of $38.76 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.37 and a beta of 0.81. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.76 and a current ratio of 1.21.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. As a group, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. The trade was a 55.43% decrease in their position. The sale 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 the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly 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. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Bank of America raised their price target 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.54.

Sysco 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.