Sysco Co. (NYSE:SYY) Holdings Cut by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 319,191 shares of the company's stock after selling 47,200 shares during the period. New York State Common Retirement Fund owned 0.06% of Sysco worth $24,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC purchased a new position in Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. boosted its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock valued at $26,000 after buying an additional 310 shares during the last quarter. Fairscale Capital LLC purchased a new position in Sysco in the 2nd quarter valued at about $38,000. Canoe Financial LP purchased a new position in Sysco in the 3rd quarter valued at about $38,000. Finally, LRI Investments LLC purchased a new position in Sysco in the 1st quarter valued at about $45,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of Sysco stock traded up $0.34 on Monday, hitting $75.37. The company had a trading volume of 2,938,689 shares, compared to its average volume of 3,170,786. The business has a 50-day simple moving average of $76.16 and a 200-day simple moving average of $74.73. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.69. The company has a market cap of $37.02 billion, a PE ratio of 19.38, a PEG ratio of 1.96 and a beta of 1.20. Sysco Co. has a 52 week low of $66.27 and a 52 week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, October 4th. Sysco's payout ratio is 52.44%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 16th. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.77.

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.