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Sysco Corporation (NYSE:SYY) Shares Sold by Mizuho Securities USA LLC

Sysco logo with Consumer Staples background

Key Points

  • Mizuho Securities USA LLC has reduced its holdings in Sysco Corporation by 15.9%, owning 39,173 shares worth approximately $2.94 million after selling 7,384 shares in the first quarter.
  • Sysco reported a quarterly earnings per share (EPS) of $1.48, exceeding analysts' expectations of $1.39, alongside a revenue of $21.14 billion for the quarter.
  • Several analysts have increased their price targets for Sysco stock, with Guggenheim raising it to $87.00 and Truist Financial setting a new target of $90.00, indicating a strong market interest in the company.
  • Looking to export and analyze Sysco data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Mizuho Securities USA LLC decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,173 shares of the company's stock after selling 7,384 shares during the quarter. Mizuho Securities USA LLC's holdings in Sysco were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC grew its holdings in Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after buying an additional 139 shares during the period. Golden State Wealth Management LLC grew its holdings in Sysco by 48.4% in the 1st 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 period. Chicago Partners Investment Group LLC grew its holdings in Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after buying an additional 143 shares during the period. One Wealth Advisors LLC grew its holdings in Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after buying an additional 151 shares during the period. Finally, Lcnb Corp grew its holdings in Sysco by 2.9% in the 1st quarter. Lcnb Corp now owns 5,985 shares of the company's stock valued at $449,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Trading Up 0.3%

Shares of SYY stock opened at $80.64 on Monday. Sysco Corporation has a 12 month low of $67.12 and a 12 month 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 business's 50 day moving average is $76.94 and its two-hundred day moving average is $73.91. The company has a market cap of $39.09 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Guggenheim lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays lifted their target price on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Finally, BMO Capital Markets decreased their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Check Out Our Latest Research Report on Sysco

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president directly owned 30,235 shares in the company, valued at $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 company insiders.

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.

Further Reading

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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