Saturday, June 25, 2022

A company insider recently bought 1,000 shares of Sysco Corporation [SYY]. Should You buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sysco Corporation shares valued at $80,090 were purchased by Alt Aaron E on Jun 21. At $80.09 per share, Alt Aaron E acquired 1,000 shares. The insider’s holdings grew to 14,220 shares worth approximately $1.11 million following the completion of this transaction.


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Also, Bertrand Greg D sold 50,000 shares, netting a total of over 4,500,000 in proceeds. Following the sale of shares at $90.00 each, the insider now holds 32,324 shares.

Before that, Hourican Kevin had sold 75,018 shares from its account. In a trade valued at $6,451,548, the President and CEO traded Sysco Corporation shares for $86.00 each. Upon closing the transaction, the insider’s holdings decreased to 75,018 shares, worth approximately $6.93 million.

As published in a research note from JP Morgan on May 26, 2022, Sysco Corporation [SYY] has been rated up from a Neutral to an Overweight and the price target has been revised to $98. This represents a 20.1% premium over Wednesday’s closing price. Analysts at CL King started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid March. As of February 22, 2022, Argus has increased its “Hold” rating to a “Buy” for SYY. Earlier on February 01, 2022, Truist initiated its rating. Their recommendation was “a Buy” for SYY stock.

Analyzing SYY’s Price Performance

On Wednesday, Sysco Corporation [NYSE: SYY] plunged -2.21% to $78.30. The stock’s lowest price that day was $77.90, but it reached a high of $79.32 in the same session. During the last five days, there has been a drop of approximately -2.30%. Over the course of the year, Sysco Corporation shares have dropped approximately -0.32%. Shares of the company reached a 52-week high of $91.53 on 04/21/22 and a 52-week low of $73.97 on 01/24/22. A 50-day SMA is recorded $83.71, while a 200-day SMA reached $80.12. Nevertheless, trading volume fell to 2.4 million shares from 1.81 million shares the previous day.

Support And Resistance Levels for Sysco Corporation (SYY)

According to the 24-hour chart, there is a support level at 77.69, which, if violated, would cause prices to drop to 77.09. In the upper region, resistance lies at 79.11. The next price resistance is at 79.93. RSI (Relative Strength Index) is 39.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.68, which suggests the price will decrease in the coming days. Percent R is at 93.78%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Sysco Corporation (SYY)?

According to The Vanguard Group, Inc. filings, the company currently owns 43,285,563 shares, which is about 8.50% of the total SYY shares outstanding. The investor’s shares have appreciated by 454,944 from its previous 13-F filing of 42830619.0 shares. With the completion of the buy, Wellington Management Co. LLP’s stake is now worth $2,991,722,013. SSgA Funds Management, Inc. acquire a 1.98% interest valued at $2.07 billion while BlackRock Fund Advisors purchased a 83,641 stake. A total of 73,464 shares of Sysco Corporation were bought by JPMorgan Investment Management, I during the quarter, and -382,018 were sold by Lazard Asset Management LLC. In its current portfolio, Trian Fund Management LP holds 11,503,829 shares valued at $968.39 million.

In terms of Sysco Corporation share price expectations, FactSet research, analysts set an average price target of $95.08 in the next 12 months, up nearly 20.52% from the previous closing price of $80.07. Analysts anticipate Sysco Corporation stock to reach $107.00 by 2022, with the lowest price target being $84.00. In spite of this, 17 analysts ranked Sysco Corporation stock as an Overweight at the end of 2022. On January 04, 2022, Deutsche Bank assigned a price target of “a Hold” to the stock and initiated coverage with a $82.

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