Bank of New York Mellon Corp Sells 17,083 Shares of Sysco Co. (NYSE:SYY)

Bank of New York Mellon Corp reduced its stake in Sysco Co. (NYSE:SYY) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,226,751 shares of the company’s stock after selling 17,083 shares during the period. Bank of New York Mellon Corp owned 1.07% of Sysco worth $399,637,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Sysco in the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the third quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY opened at $74.23 on Thursday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 19.08, 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 current ratio of 1.20 and a quick ratio of 0.68. The company’s 50 day simple moving average is $73.72 and its 200 day simple moving average is $75.65.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 prior year, the firm posted $0.89 EPS. As a group, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock worth $5,965,519 over the last 90 days. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYY. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Finally, Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.