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Sysco Corp. [SYY] SVP makes an insider purchase of 4,000 shares worth 0.32 million.

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sysco Corp. shares valued at $321,640 were sold by Jasper James Chris on Mar 14 ’24. At $80.41 per share, Jasper James Chris sold 4,000 shares. The insider’s holdings dropped to 18,531 shares worth approximately $1.35 million following the completion of this transaction.

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Also, Russell Neil sold 1,722 shares, netting a total of over 137,760 in proceeds. Following the sale of shares at $80.00 each, the insider now holds 24,082 shares.

Before that, Talton Sheila had sold 2,200 shares from its account. In a trade valued at $157,872, the Director traded Sysco Corp. shares for $71.76 each. Upon closing the transaction, the insider’s holdings decreased to 2,200 shares, worth approximately $0.93 million.

As published in a research note from Guggenheim on May 28, 2024, Sysco Corp. [SYY] has been rated up from a Neutral to a Buy and the price target has been revised to $85. As of October 19, 2023, Deutsche Bank has initiated its “Buy” rating for SYY.

Analyzing SYY Stock Performance

During the last five days, there has been a surge of approximately 2.28%. Over the course of the year, Sysco Corp. shares have dropped approximately -0.52%. Shares of the company reached a 52-week high of $82.89 on 02/02/24 and a 52-week low of $70.14 on 06/13/24. A 50-day SMA is recorded $74.42, while a 200-day SMA reached $73.68. Nevertheless, trading volume fell to 5.45 million shares from 4.88 million shares the previous day.

Support And Resistance Levels for Sysco Corp. (SYY)

According to the 24-hour chart, there is a support level at 72.38, which, if violated, would cause prices to drop to 72.02. In the upper region, resistance lies at 73.32. The next price resistance is at 73.90. RSI (Relative Strength Index) is 47.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 24.35%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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