Monitoring Sysco Corporation (SYY) after recent insider movements

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CHWY Stock
CHWY Stock

Sysco Corporation’s recent filing unveils that its EVP Bertrand Greg D unloaded Company’s shares for reported $1.02 million on Oct 28. In the deal valued at $85.00 per share,12,000 shares were sold. As a result of this transaction, Bertrand Greg D now holds 40,931 shares worth roughly $ 3.41 million.


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Then, Hourican Kevin sold 75,019 shares, generating $6,093,043 in total proceeds. Upon selling the shares at $81.22, the President and CEO now owns 303,643 shares.

Before that, Alt Aaron E bought 1,000 shares. Sysco Corporation shares valued at $80,090 were divested by the EVP and CFO at a price of $80.09 per share. As a result of the transaction, Alt Aaron E now holds 14,220 shares, worth roughly $1.18 million.

Stephens initiated its Sysco Corporation [SYY] rating to an Overweight in a research note published on Monday, September 23, 2022; the price target was $90. PT values the company’s stock at a premium of 7.53 to its Monday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late May from “a Neutral” to “an Overweight”. CL King began covering SYY with “Neutral” recommendation on March 11, 2022. Argus revised its rating on February 22, 2022. It rated SYY as “a Buy” which previously was an “a Hold”.

Price Performance Review of SYY

On Monday, Sysco Corporation [NYSE:SYY] saw its stock jump 1.18% to $83.22. On the same session, the stock had its day’s lowest price of $82.20, but rose to a high of $83.45. Over the last five days, the stock has lost -3.86%. Sysco Corporation shares have risen nearly 5.95% since the year began. Nevertheless, the stocks have risen 2.35% over the past one year. While a 52-week high of $91.53 was reached on 04/21/22, a 52-week low of $68.05 was recorded on 09/30/22. SMA at 50 days reached $78.69, while 200 days put it at $82.33. A total of 2.5 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For SYY Stock

The 24-hour chart illustrates a support level at 82.46, which if violated will result in even more drops to 81.71. On the upside, there is a resistance level at 83.71. A further resistance level may holdings at 84.21. The Relative Strength Index (RSI) on the 14-day chart is 59.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.57%. Stochastics %K at 56.26% indicates the stock is a holding.

How much short interest is there in Sysco Corporation?

A steep rise in short interest was recorded in Sysco Corporation stocks on Jul 14, 2022, dropping by -1.15 million shares to a total of 9.59 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 10.74 million shares. There was a decline of -11.99%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.88% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.16.

Sysco Corporation [SYY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 44,276,184 shares, or roughly 8.75% of the outstanding SYY shares. In other words, the investor’s shares have risen by 990,621 from its previous 13-F filing of 43285563.0. Additionally, Wellington Management Co. LLP decreased -3.73% of its stake after which the total value it holdings stand at $2,419,318,679, while SSgA Funds Management, Inc. reduced -2.86% of its stake to hold $1.69 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 2,602 shares of Sysco Corporation, while JPMorgan Investment Management, I bought -553,810 shares. At present, Lazard Asset Management LLC is holding 10,930,519 shares valued at $772.9 million. Trian Fund Management LP owned 8,793,157 shares of the company at the time of its most recent 13F filing, worth $621.76 million.

However, 19 analysts have rated SYY stock as an Overweight in their predictions for 2022. The most recent change occurred on February 01, 2022 when Truist began covering the stock and recommended ‘”a Buy”‘ rating along with a $89 price target.

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