SouthState Corp reduced its position in shares of Sysco Co. (NYSE:SYY – Get Rating) by 22.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,190 shares of the company’s stock after selling 1,232 shares during the quarter. SouthState Corp’s holdings in Sysco were worth $342,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter valued at about $25,000. Allegheny Financial Group LTD bought a new stake in shares of Sysco in the 4th quarter valued at about $31,000. KRS Capital Management LLC bought a new stake in shares of Sysco in the 4th quarter valued at about $31,000. DeDora Capital Inc. bought a new stake in shares of Sysco in the 1st quarter valued at about $31,000. Finally, Column Capital Advisors LLC increased its stake in shares of Sysco by 4,900.0% in the 1st quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after acquiring an additional 392 shares during the last quarter. 80.64% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Sysco from $82.00 to $84.00 in a research note on Wednesday, May 11th. Credit Suisse Group upped their price target on Sysco from $97.00 to $107.00 in a research note on Wednesday, May 11th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research note on Thursday, May 26th. Finally, Piper Sandler increased their target price on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.88.
Sysco Trading Down 0.1 %
Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The firm had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $15.99 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 42.9% on a year-over-year basis. As a group, analysts expect that Sysco Co. will post 3.23 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Aaron E. Alt acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was bought at an average price of $80.09 per share, with a total value of $80,090.00. Following the acquisition, the chief financial officer now owns 14,220 shares in the company, valued at approximately $1,138,879.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
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