Peninsula Asset Management Inc. Decreases Position in Sysco Corporation (NYSE:SYY)

Peninsula Asset Management Inc. decreased its stake in Sysco Corporation (NYSE:SYY) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,821 shares of the company’s stock after selling 824 shares during the quarter. Sysco comprises 1.6% of Peninsula Asset Management Inc.’s portfolio, making the stock its 23rd biggest holding. Peninsula Asset Management Inc.’s holdings in Sysco were worth $2,838,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock valued at $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC purchased a new stake in Sysco in the 4th quarter worth about $29,000. Golden State Wealth Management LLC lifted its stake in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco during the first quarter valued at approximately $33,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Sysco during the fourth quarter valued at approximately $34,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 target price for the company. Guggenheim reissued a “buy” rating and set a $82.00 target price on shares of Sysco in a research note on Tuesday, July 8th. Morgan Stanley raised their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Finally, Truist Financial lifted their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 2.2%

NYSE SYY opened at $80.10 on Thursday. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.76 and a current ratio of 1.21. The company has a market capitalization of $38.83 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company’s 50-day simple moving average is $75.81 and its two-hundred day simple moving average is $73.59.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco 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.