Taylor Frigon Capital Management LLC Cuts Stock Position in Sysco Co. (NYSE:SYY)

Taylor Frigon Capital Management LLC cut its holdings in Sysco Co. (NYSE:SYY) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,038 shares of the company’s stock after selling 316 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Sysco were worth $1,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fortem Financial Group LLC grew its holdings in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares in the last quarter. S.A. Mason LLC boosted its stake in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after buying an additional 150 shares during the period. Cable Hill Partners LLC boosted its stake in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after buying an additional 152 shares during the period. Brooklyn Investment Group boosted its stake in Sysco by 12.3% during the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after buying an additional 154 shares during the period. Finally, Howard Capital Management Inc. boosted its stake in Sysco by 5.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after buying an additional 162 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,370 shares of company stock worth $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYY shares. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

SYY opened at $74.23 on Thursday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The firm’s 50-day moving average price is $73.72 and its 200-day moving average price is $75.65. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a market cap of $36.32 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period in the prior year, the firm posted $0.89 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.58 EPS 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.