Cabot Wealth Management Inc. Purchases 5,415 Shares of Sysco Co. (NYSE:SYY)

Cabot Wealth Management Inc. raised its position in Sysco Co. (NYSE:SYY) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 148,499 shares of the company’s stock after acquiring an additional 5,415 shares during the period. Sysco comprises 1.4% of Cabot Wealth Management Inc.’s portfolio, making the stock its 29th biggest position. Cabot Wealth Management Inc.’s holdings in Sysco were worth $11,354,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 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 in the third quarter valued at about $137,900,000. Nordea Investment Management AB boosted its position in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after buying an additional 933,327 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Sysco during the third quarter worth about $44,722,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % 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 21,844 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is owned by insiders.

Sysco Stock Performance

Sysco stock opened at $73.22 on Friday. The firm has a market cap of $35.82 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The firm has a 50-day moving average of $73.96 and a 200-day moving average of $75.68. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its 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 business earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current 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.