Kentucky Retirement Systems Insurance Trust Fund Increases Holdings in Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,595 shares of the company's stock after purchasing an additional 6,035 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Sysco were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the third quarter worth approximately $37,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco in the third quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 2.8 %

Sysco stock traded up $2.00 during trading on Friday, hitting $73.22. 5,381,502 shares of the company were exchanged, compared to its average volume of 3,765,759. The business's 50 day moving average is $74.10 and its 200 day moving average is $75.69. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a market capitalization of $35.82 billion, a P/E ratio of 18.82, a PEG ratio of 1.87 and a beta of 1.17. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company earned $0.89 earnings per share. Analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYY shares. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Melius Research raised Sysco to a "hold" rating in a research note on Wednesday, December 18th. Guggenheim reissued a "buy" rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. 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 note on Wednesday, October 30th. Finally, 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 note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $84.38.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 in the last quarter. 0.54% of the stock is currently owned by company insiders.

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.