Linscomb Wealth Inc. Reduces Position in Sysco Co. (NYSE:SYY)

Linscomb Wealth Inc. trimmed its stake in Sysco Co. (NYSE:SYY) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,709 shares of the company’s stock after selling 787 shares during the period. Linscomb Wealth Inc.’s holdings in Sysco were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SYY. First United Bank & Trust purchased a new stake in Sysco in the 4th quarter valued at about $26,000. Verity & Verity LLC purchased a new stake in shares of Sysco in the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its position in shares of Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of Sysco in the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Sysco in the 1st quarter worth approximately $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SYY shares. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. Piper Sandler lowered their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. BMO Capital Markets lowered their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Sysco Stock Performance

Sysco stock traded up $0.73 during mid-day trading on Friday, reaching $72.85. 3,196,592 shares of the company traded hands, compared to its average volume of 2,946,025. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s fifty day moving average is $72.27 and its two-hundred day moving average is $76.08.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal 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.