HB Wealth Management LLC Buys 3,094 Shares of Sysco Corporation (NYSE:SYY)

HB Wealth Management LLC grew its stake in Sysco Corporation (NYSE:SYY) by 16.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,392 shares of the company’s stock after purchasing an additional 3,094 shares during the quarter. HB Wealth Management LLC’s holdings in Sysco were worth $1,680,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SYY. Rialto Wealth Management LLC raised its holdings in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in Sysco in the 4th quarter worth $29,000. Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Sysco in the 4th quarter worth about $34,000. Finally, Ameriflex Group Inc. bought a new position in shares of Sysco in the 4th quarter worth about $35,000. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director owned 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,962 shares of company stock valued at $6,271,305 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. UBS Group increased their price target on shares of Sysco from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley increased 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. Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $82.00 price target on shares of Sysco in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.85.

Sysco Stock Performance

Shares of SYY stock opened at $80.36 on Tuesday. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company’s 50-day moving average is $75.55 and its 200 day moving average is $73.51. The company has a market capitalization of $38.95 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

About Sysco

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.