Principal Securities Inc. Sells 541 Shares of Sysco Co. (NYSE:SYY)

Principal Securities Inc. cut its holdings in Sysco Co. (NYSE:SYY) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,754 shares of the company’s stock after selling 541 shares during the period. Principal Securities Inc.’s holdings in Sysco were worth $440,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the third quarter valued at about $38,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock opened at $73.22 on Friday. The company’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $75.68. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm has a market cap of $35.82 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

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

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 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 $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were 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 $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 three months, insiders have sold 76,370 shares of company stock valued at $5,965,519. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SYY shares. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco 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.