Kingsview Wealth Management LLC Sells 25,303 Shares of Sysco Co. (NYSE:SYY)

Kingsview Wealth Management LLC decreased its position in Sysco Co. (NYSE:SYY - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,523 shares of the company's stock after selling 25,303 shares during the quarter. Kingsview Wealth Management LLC's holdings in Sysco were worth $805,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Apollon Wealth Management LLC increased its position in Sysco by 9.1% during the fourth quarter. Apollon Wealth Management LLC now owns 8,290 shares of the company's stock worth $634,000 after acquiring an additional 694 shares during the period. Vest Financial LLC increased its position in Sysco by 12.6% during the fourth quarter. Vest Financial LLC now owns 762,658 shares of the company's stock worth $58,313,000 after acquiring an additional 85,402 shares during the period. Global X Japan Co. Ltd. increased its position in Sysco by 18.0% during the fourth quarter. Global X Japan Co. Ltd. now owns 6,994 shares of the company's stock worth $535,000 after acquiring an additional 1,068 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Sysco by 1.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,097 shares of the company's stock worth $4,748,000 after acquiring an additional 958 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Sysco by 0.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,456 shares of the company's stock worth $88,728,000 after acquiring an additional 6,738 shares during the period. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Melius Research raised shares of Sysco to a "hold" rating in a report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price on the stock. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Guggenheim reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus target price of $84.38.

Sysco Trading Down 1.1 %

Sysco stock traded down $0.78 during trading hours on Friday, reaching $71.10. 2,542,035 shares of the company's stock traded hands, compared to its average volume of 3,927,183. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a market capitalization of $34.78 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.17. The firm's 50 day moving average is $74.88 and its 200-day moving average is $75.84. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

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

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by corporate insiders.

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.