New York State Teachers Retirement System Sells 19,473 Shares of Sysco Co. (NYSE:SYY)

New York State Teachers Retirement System decreased its position in Sysco Co. (NYSE:SYY) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,029 shares of the company’s stock after selling 19,473 shares during the period. New York State Teachers Retirement System owned 0.09% of Sysco worth $34,103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Sysco during the fourth quarter worth about $31,000. Focused Wealth Management Inc bought a new position in Sysco during the third quarter worth about $37,000. Finally, Canoe Financial LP bought a new position in Sysco during the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.1 %

Shares of Sysco stock opened at $71.10 on Friday. The business’s 50 day simple moving average is $74.88 and its 200 day simple moving average is $75.84. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The firm has a market cap of $34.78 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm posted $0.89 EPS. On average, analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYY. Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.38.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock worth $6,181,946 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Sysco 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.