First Nebraska Trust Co Makes New Investment in Sysco Corporation $SYY

First Nebraska Trust Co purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the first quarter, HoldingsChannel reports. The fund purchased 2,196,796 shares of the company’s stock, valued at approximately $156,697,000. Sysco accounts for approximately 14.5% of First Nebraska Trust Co’s portfolio, making the stock its largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. raised its holdings in Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares during the period. United Community Bank boosted its position in Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after buying an additional 125 shares during the period. First Citizens Bank & Trust Co. grew its stake in Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after purchasing an additional 138 shares in the last quarter. Octavia Wealth Advisors LLC grew its position in shares of Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after buying an additional 141 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its position in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock opened at $85.31 on Friday. The business has a 50 day simple moving average of $80.46 and a two-hundred day simple moving average of $80.14. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market capitalization of $40.84 billion, a P/E ratio of 23.63, a PEG ratio of 3.36 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYY shares. Sanford C. Bernstein cut their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating on shares of Sysco in a report on Wednesday, July 22nd. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.00.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.