WASHINGTON TRUST Co Has $14.80 Million Position in Sysco Co. (NYSE:SYY)

WASHINGTON TRUST Co trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,521 shares of the company’s stock after selling 9,879 shares during the period. WASHINGTON TRUST Co’s holdings in Sysco were worth $14,797,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the 3rd quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco in the fourth quarter valued at $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the third quarter worth $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter worth $38,000. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock valued at $6,181,946 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barclays reduced their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Price Performance

NYSE:SYY opened at $71.10 on Friday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm’s 50-day simple moving average is $75.07 and its 200 day simple moving average is $75.86. The firm has a market cap of $34.78 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 in the previous year, the firm earned $0.89 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current 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.