Allspring Global Investments Holdings LLC Has $31.74 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Allspring Global Investments Holdings LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 419,236 shares of the company’s stock after selling 30,117 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Sysco worth $31,740,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SYY. State Street Corp lifted its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Sysco during the third quarter worth about $137,900,000. Nordea Investment Management AB increased its position in Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after acquiring an additional 933,327 shares during the period. Diamond Hill Capital Management Inc. increased its position in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in Sysco during the third quarter worth about $44,722,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SYY shares. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Truist Financial decreased 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 1.1 %

Shares of Sysco stock opened at $71.10 on Friday. The firm has a market capitalization of $34.78 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm’s 50 day moving average is $75.07 and its 200 day moving average is $75.86. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the firm posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

About Sysco

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.