Sysco Corporation $SYY Stock Position Decreased by Bank of America Corp DE

Bank of America Corp DE decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,722,909 shares of the company's stock after selling 127,575 shares during the quarter. Bank of America Corp DE owned about 1.20% of Sysco worth $408,215,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Lloyd Advisory Services LLC. acquired a new stake in shares of Sysco in the 4th quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in Sysco during the fourth quarter worth $25,000. Sunbelt Securities Inc. increased its position in Sysco by 87.6% during 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 last quarter. Bard Associates Inc. bought a new position in Sysco during the fourth quarter valued at about $27,000. Finally, Torren Management LLC bought a new position in Sysco during the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Sysco in a research note on Friday, June 26th. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. 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. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Finally, Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $88.00.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Sysco Trading Up 0.1%

Sysco stock opened at $85.31 on Monday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The firm has a market capitalization of $40.84 billion, a PE ratio of 23.63, a PEG ratio of 3.36 and a beta of 0.64. The business's 50-day simple moving average is $80.46 and its 200-day simple moving average is $80.18.

About Sysco

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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