Klingman & Associates LLC Has $212,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Klingman & Associates LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 53.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,779 shares of the company’s stock after selling 3,248 shares during the quarter. Klingman & Associates LLC’s holdings in Sysco were worth $212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new stake in Sysco in the 3rd quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the 4th quarter worth about $31,000. Focused Wealth Management Inc acquired a new stake in Sysco in the 3rd quarter worth about $37,000. Finally, Canoe Financial LP acquired a new stake in Sysco in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SYY. JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Truist Financial dropped their target price 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. UBS Group dropped their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock valued at $5,965,519 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Sysco Trading Up 1.0 %

Shares of Sysco stock opened at $70.68 on Thursday. The firm has a market capitalization of $34.58 billion, a PE ratio of 18.17, 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 $74.27 and its 200 day moving average is $75.72. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates 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 posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal 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.