Sysco Corporation (NYSE:SYY) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc raised its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 212,315 shares of the company's stock after acquiring an additional 23,373 shares during the quarter. TD Asset Management Inc's holdings in Sysco were worth $15,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rialto Wealth Management LLC increased 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 valued at $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in Sysco in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC boosted 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 valued at $32,000 after buying an additional 140 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $34,000. Finally, Ameriflex Group Inc. acquired a new stake in Sysco in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Citigroup initiated coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Barclays raised their price target on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Five investment 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, Sysco currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the sale, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.27 during midday trading on Friday, reaching $79.87. 2,101,301 shares of the stock were exchanged, compared to its average volume of 2,893,330. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a 50-day simple moving average of $75.96 and a two-hundred day simple moving average of $73.63. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The firm has a market cap of $38.72 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.47 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm 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 company's quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal year.

About Sysco

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.