Sysco Co. (NYSE:SYY) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in Sysco Co. (NYSE:SYYFree Report) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 138,017 shares of the company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Sysco were worth $10,093,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vontobel Holding Ltd. raised its stake in shares of Sysco by 166.0% in the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock worth $1,338,000 after purchasing an additional 10,065 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sysco by 6.9% in the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock worth $21,068,000 after purchasing an additional 16,772 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Sysco by 12.9% in the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock worth $1,808,000 after purchasing an additional 2,522 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock worth $53,865,000 after purchasing an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Sysco by 54.8% in the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock worth $68,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $80.43 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a market capitalization of $40.04 billion, a PE ratio of 19.67, a P/E/G ratio of 1.64 and a beta of 1.15. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The business’s fifty day moving average price is $79.90 and its 200 day moving average price is $73.56.

Sysco (NYSE:SYYGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.49%. Sysco’s dividend payout ratio (DPR) is 48.90%.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SYY shares. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price target on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Stephens lifted their price target on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

View Our Latest Report on SYY

Sysco Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYFree Report).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.