Virtu Financial LLC Invests $604,000 in Sysco Corporation (NYSE:SYY)

Key Points

• Virtu Financial LLC has invested approximately $604,000 in Sysco Corporation by acquiring 8,055 shares during the first quarter.
• Analysts have set new price targets for Sysco, with Bank of America increasing its target from $81.00 to $93.00, reflecting a positive outlook on the stock.
• Insider trading activity was noted with executives selling significant shares, including EVP Ronald L. Phillips who sold 37,606 shares at an average price of $81.00.

Virtu Financial LLC acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,055 shares of the company's stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SYY. Boyd Watterson Asset Management LLC OH lifted its position in Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after purchasing an additional 1,622 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sysco by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after acquiring an additional 4,932 shares in the last quarter. Fiduciary Trust Co raised its stake in Sysco by 0.3% during the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after acquiring an additional 196 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Sysco during the first quarter worth about $202,000. Finally, Golden State Wealth Management LLC raised its stake in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president directly owned 34,404 shares in the company, valued at $2,786,724. The trade was a 15.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction 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 sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock worth $6,766,059 over the last quarter. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on SYY shares. Guggenheim boosted their target price on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Truist Financial raised 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, July 30th. Bank of America raised their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Trading Down 2.1%

Shares of SYY stock traded down $1.71 during trading hours on Friday, hitting $79.49. 3,936,783 shares of the company were exchanged, compared to its average volume of 3,390,233. The firm has a market cap of $38.53 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.46 and a beta of 0.83. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.64. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a 50 day simple moving average of $77.65 and a two-hundred day simple moving average of $74.14.

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

Sysco Company 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.