Sysco Co. (NYSE:SYY) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,013,411 shares of the company’s stock after selling 54,289 shares during the period. California Public Employees Retirement System’s holdings in Sysco were worth $77,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC increased its stake in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYY has been the topic of several analyst reports. UBS Group lowered their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Jefferies Financial Group increased their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

NYSE:SYY opened at $75.10 on Tuesday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23. The firm has a market cap of $36.74 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company’s 50-day moving average is $73.03 and its two-hundred day moving average is $75.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 quarter in the prior year, the business earned $0.89 EPS. Research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s payout ratio is currently 52.44%.

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.