US Bancorp DE Has $19.54 Million Holdings in Sysco Corporation (NYSE:SYY)

Key Points

• US Bancorp DE has reduced its stake in Sysco Corporation by 2.2%, owning approximately 260,408 shares valued at $19.5 million as per their latest SEC filing.
• Multiple hedge funds have adjusted their positions in Sysco, with some increasing their stakes, including Natixis Advisors LLC raising its position by 5.0%.
• Sysco recently reported better-than-expected earnings with $1.48 EPS for the quarter, exceeding the consensus estimate of $1.39, alongside revenue of $21.14 billion.

US Bancorp DE lessened its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,408 shares of the company's stock after selling 5,724 shares during the period. US Bancorp DE owned approximately 0.05% of Sysco worth $19,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. NorthCrest Asset Manangement LLC boosted its position 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 last quarter. Golden State Wealth Management LLC boosted its position 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 last quarter. One Wealth Advisors LLC boosted its position 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 last quarter. SFE Investment Counsel boosted its position in Sysco by 2.7% in the 1st quarter. SFE Investment Counsel now owns 6,565 shares of the company's stock valued at $493,000 after buying an additional 171 shares during the last quarter. Finally, Willner & Heller LLC boosted its position in Sysco by 6.2% in the 1st quarter. Willner & Heller LLC now owns 2,931 shares of the company's stock valued at $220,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays raised their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Guggenheim raised their price objective on Sysco from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.54.

Sysco Stock Performance

Shares of NYSE:SYY traded down $0.28 during trading on Tuesday, reaching $79.19. 3,255,134 shares of the stock were exchanged, compared to its average volume of 2,965,037. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market cap of $38.39 billion, a PE ratio of 21.23, a PEG ratio of 2.46 and a beta of 0.83. The stock has a 50-day moving average price of $76.28 and a 200-day moving average price of $73.71. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Research analysts expect 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.