Coho Partners Ltd. cut its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,250,943 shares of the company's stock after selling 278,984 shares during the period. Sysco makes up approximately 4.4% of Coho Partners Ltd.'s investment portfolio, making the stock its 5th largest holding. Coho Partners Ltd. owned 0.25% of Sysco worth $95,647,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Sysco in the 3rd quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter valued at approximately $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco during the 3rd quarter worth approximately $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on SYY. Guggenheim reissued a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. UBS Group dropped their target price on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.38.
Get Our Latest Stock Report on SYY
Insider Buying and Selling at Sysco
In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the company's 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 completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock valued at $5,965,519 in the last three months. 0.54% of the stock is currently owned by company insiders.
Sysco Stock Performance
Shares of SYY stock traded down $1.00 during trading on Tuesday, reaching $70.10. 5,046,268 shares of the company's stock were exchanged, compared to its average volume of 3,540,438. The firm's fifty day moving average price is $74.68 and its 200-day moving average price is $75.80. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The stock has a market capitalization of $34.30 billion, a PE ratio of 18.02, a PEG ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.
Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company earned $0.89 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.
About Sysco
(
Free Report)
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.
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