C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases New Position in Sysco Co. (NYSE:SYY)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,333 shares of the company’s stock, valued at approximately $331,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its stake in Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock worth $2,446,000 after buying an additional 20,356 shares in the last quarter. Creative Planning boosted its stake in Sysco by 3.6% during the 3rd quarter. Creative Planning now owns 196,876 shares of the company’s stock worth $15,368,000 after purchasing an additional 6,814 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Sysco by 0.4% during the third quarter. Vontobel Holding Ltd. now owns 50,126 shares of the company’s stock worth $3,913,000 after buying an additional 218 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Sysco by 3.6% in the third quarter. Cornerstone Wealth Management LLC now owns 9,540 shares of the company’s stock valued at $745,000 after buying an additional 331 shares during the last quarter. Finally, Walter Public Investments Inc. raised its holdings in Sysco by 21.7% in the 3rd quarter. Walter Public Investments Inc. now owns 162,830 shares of the company’s stock valued at $12,711,000 after acquiring an additional 29,078 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYY. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Finally, Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,270 shares of company stock worth $6,181,946. Company insiders own 0.54% of the company’s stock.

Sysco Trading Up 2.4 %

Shares of NYSE SYY opened at $71.87 on Friday. The stock has a fifty day simple moving average of $75.27 and a 200-day simple moving average of $75.88. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $35.16 billion, a PE ratio of 18.48, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. 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.