WASHINGTON TRUST Co Trims Stock Position in Sysco Co. (NYSE:SYY)

WASHINGTON TRUST Co reduced its position in Sysco Co. (NYSE:SYY - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,521 shares of the company's stock after selling 9,879 shares during the quarter. WASHINGTON TRUST Co's holdings in Sysco were worth $14,797,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SYY. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter valued at $31,000. Focused Wealth Management Inc purchased a new stake in Sysco in the third quarter worth $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the third quarter worth $38,000. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company'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 transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock worth $5,965,519 in the last ninety days. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on SYY shares. Morgan Stanley cut their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. StockNews.com raised shares of Sysco from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Four investment 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 stock. According to data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $84.38.

Sysco Stock Up 1.0 %

Shares of SYY stock traded up $0.68 during mid-day trading on Wednesday, hitting $70.68. 6,875,957 shares of the stock traded hands, compared to its average volume of 3,644,677. The stock's fifty day moving average is $74.46 and its two-hundred day moving average is $75.75. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The stock has a market cap of $34.58 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 business earned $0.89 earnings per share. Equities analysts predict that Sysco Co. 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.