SouthState Corp Has $342,000 Stock Position in Sysco Co. (NYSE:SYY)

SouthState Corp trimmed its position in Sysco Co. (NYSE:SYYGet Rating) by 22.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,190 shares of the company’s stock after selling 1,232 shares during the quarter. SouthState Corp’s holdings in Sysco were worth $342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Sysco by 5.6% in the fourth quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after buying an additional 1,677,431 shares during the period. State Street Corp boosted its holdings in shares of Sysco by 0.6% in the fourth quarter. State Street Corp now owns 24,068,515 shares of the company’s stock worth $1,890,582,000 after buying an additional 148,172 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Sysco by 8.4% in the fourth quarter. Lazard Asset Management LLC now owns 13,020,585 shares of the company’s stock worth $1,022,765,000 after buying an additional 1,009,837 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Sysco by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,854,811 shares of the company’s stock worth $615,028,000 after purchasing an additional 242,350 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Sysco by 9.3% during the fourth quarter. American Century Companies Inc. now owns 6,622,309 shares of the company’s stock worth $520,183,000 after purchasing an additional 562,270 shares during the period. 80.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Aaron E. Alt purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, June 21st. The shares were bought at an average price of $80.09 per share, with a total value of $80,090.00. Following the completion of the transaction, the chief financial officer now directly owns 14,220 shares in the company, valued at approximately $1,138,879.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. Credit Suisse Group raised their price target on shares of Sysco from $97.00 to $107.00 in a report on Wednesday, May 11th. JPMorgan Chase & Co. upgraded shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target for the company in a report on Thursday, May 26th. Barclays raised their price target on shares of Sysco from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, June 29th. Piper Sandler raised their price target on shares of Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Sysco from $82.00 to $84.00 in a research note on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $94.88.

Sysco Price Performance

NYSE SYY opened at $86.29 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.24 and a debt-to-equity ratio of 8.03. The stock has a market capitalization of $43.96 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 2.20 and a beta of 1.02. The company has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $83.22. Sysco Co. has a 12-month low of $68.05 and a 12-month high of $91.53.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. Sysco had a net margin of 1.52% and a return on equity of 100.62%. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $15.99 billion. During the same quarter last year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 3.23 earnings per share for the current fiscal year.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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