Chevy Chase Trust Holdings LLC Sells 5,885 Shares of Sysco Co. (NYSE:SYY)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 259,674 shares of the company's stock after selling 5,885 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Sysco worth $19,855,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYY. State Street Corp boosted its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Sysco in the 3rd quarter valued at $137,900,000. Nordea Investment Management AB increased its stake in Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock worth $521,874,000 after buying an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Sysco during the third quarter valued at about $44,722,000. 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 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.38.

Sysco Stock Up 1.0 %

Shares of Sysco stock traded up $0.68 during midday trading on Wednesday, reaching $70.68. 6,832,258 shares of the company's stock traded hands, compared to its average volume of 3,643,229. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company's 50 day simple moving average is $74.46 and its 200 day simple moving average is $75.75. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company posted $0.89 EPS. Equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal 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.