Bright Futures Wealth Management LLC. acquired a new position in shares of Sysco Co. (NYSE:SYY – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,346 shares of the company’s stock, valued at approximately $272,000.
Other institutional investors have also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new stake in Sysco during the fourth quarter worth $26,000. Verity & Verity LLC acquired a new stake in Sysco during the first quarter worth $26,000. AdvisorNet Financial Inc increased its stake in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in Sysco during the fourth quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new stake in Sysco during the first quarter worth $31,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Sysco Stock Up 1.2 %
NYSE SYY traded up $0.90 during trading on Friday, reaching $76.71. 3,313,141 shares of the company’s stock were exchanged, compared to its average volume of 3,000,702. The stock has a market cap of $38.20 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.77 and a current ratio of 1.20. The company has a 50 day moving average price of $72.47 and a two-hundred day moving average price of $76.09. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.
Analysts Set New Price Targets
SYY has been the subject of a number of research reports. UBS Group dropped their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.27.
Read Our Latest Stock Report on Sysco
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.
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