Forvis Mazars Wealth Advisors LLC Sells 822 Shares of Sysco Corporation (NYSE:SYY)

Forvis Mazars Wealth Advisors LLC lessened its holdings in Sysco Corporation (NYSE:SYY) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,846 shares of the company’s stock after selling 822 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Sysco were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of SYY. Boston Partners grew its stake in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the period. Capital Research Global Investors grew its stake in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the period. Canoe Financial LP grew its stake in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock worth $107,393,000 after acquiring an additional 1,426,332 shares during the period. Nuveen LLC bought a new position in shares of Sysco during the 1st quarter worth $85,341,000. Finally, Burgundy Asset Management Ltd. grew its stake in shares of Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company’s stock worth $111,026,000 after acquiring an additional 1,039,088 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Barclays increased their price target on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $85.69.

Sysco Stock Down 2.1%

Shares of NYSE SYY opened at $79.49 on Friday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.64. The business has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $74.14. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The company 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 (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The firm had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In other Sysco news, EVP Ronald L. Phillips sold 6,286 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total value of $509,166.00. Following the sale, the executive vice president owned 34,404 shares of the company’s stock, valued at $2,786,724. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,026 shares of company stock worth $6,766,059. Insiders own 0.54% of the company’s stock.

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.