Partners Wealth Management LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Partners Wealth Management LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,808 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Sysco by 41.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,935 shares of the company’s stock worth $7,182,000 after buying an additional 27,400 shares during the period. Cabot Wealth Management Inc. boosted its holdings in shares of Sysco by 3.8% in the 4th quarter. Cabot Wealth Management Inc. now owns 148,499 shares of the company’s stock valued at $11,354,000 after acquiring an additional 5,415 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of Sysco by 5.0% in the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after acquiring an additional 162 shares during the period. Marshall Investment Management LLC purchased a new position in shares of Sysco during the fourth quarter worth $87,000. Finally, Redmond Asset Management LLC acquired a new position in Sysco during the fourth quarter valued at $1,375,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 2.8 %

Shares of SYY stock opened at $73.22 on Monday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a 50 day moving average price of $73.96 and a 200 day moving average price of $75.68. The stock has a market capitalization of $35.82 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SYY. JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock valued at $5,965,519 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

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.