Webster Bank N. A. Sells 1,624 Shares of Sysco Co. (NYSE:SYY)

Webster Bank N. A. trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 41.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,298 shares of the company’s stock after selling 1,624 shares during the quarter. Webster Bank N. A.’s holdings in Sysco were worth $164,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SYY. Allworth Financial LP increased its position in Sysco by 7.8% during the 4th quarter. Allworth Financial LP now owns 5,931 shares of the company’s stock worth $434,000 after purchasing an additional 429 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Sysco by 7.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 11,165 shares of the company’s stock valued at $817,000 after acquiring an additional 806 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Sysco by 8.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,150 shares of the company’s stock valued at $6,885,000 after acquiring an additional 6,981 shares during the period. Valley National Advisers Inc. increased its position in Sysco by 85.7% in the 4th quarter. Valley National Advisers Inc. now owns 661 shares of the company’s stock valued at $48,000 after acquiring an additional 305 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter valued at approximately $72,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Piper Sandler decreased their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. UBS Group reduced their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Stock Up 0.1 %

NYSE SYY traded up $0.08 on Friday, hitting $75.63. 2,258,827 shares of the company were exchanged, compared to its average volume of 3,140,584. The company has a market cap of $37.66 billion, a PE ratio of 18.45, a PEG ratio of 1.96 and a beta of 1.18. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a fifty day moving average of $72.77 and a 200-day moving average of $76.09. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 earnings per share. As a group, analysts forecast that Sysco Co. will post 4.6 earnings per share for the current 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.