Linscomb Wealth Inc. Boosts Stock Holdings in Sysco Corporation (NYSE:SYY)

Linscomb Wealth Inc. boosted its stake in shares of Sysco Corporation (NYSE:SYY) by 57.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,195 shares of the company’s stock after purchasing an additional 1,905 shares during the period. Linscomb Wealth Inc.’s holdings in Sysco were worth $390,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% in the 1st 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 position in shares of Sysco in the 4th quarter valued at $29,000. Golden State Wealth Management LLC raised its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco in the 1st quarter valued at $33,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Sysco in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In related news, EVP Ronald L. Phillips sold 37,606 shares of Sysco 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 $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SYY shares. JPMorgan Chase & Co. raised their price target on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Guggenheim raised their price target on shares of Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Barclays raised their price target on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, BMO Capital Markets lowered their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Sysco Trading Down 1.0%

Sysco stock opened at $79.84 on Tuesday. The firm’s 50-day moving average is $77.07 and its 200-day moving average is $73.94. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market cap of $38.70 billion, a P/E ratio of 21.40, a PEG ratio of 2.50 and a beta of 0.83.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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. The firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. On average, equities analysts expect that Sysco Corporation will post 4.58 earnings per share 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.