Public Employees Retirement System of Ohio Cuts Stake in Sysco Co. (NYSE:SYY)

Public Employees Retirement System of Ohio reduced its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,942 shares of the company's stock after selling 12,133 shares during the period. Public Employees Retirement System of Ohio's holdings in Sysco were worth $14,124,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the second quarter worth $25,000. Armstrong Advisory Group Inc. boosted its stake in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco during the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the 3rd quarter valued at about $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco in the third quarter worth about $37,000. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company's stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was 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 of the company's stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,279 shares of company stock valued at $2,786,971. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

SYY has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $85.77.

Sysco Stock Performance

Shares of Sysco stock traded down $0.64 during trading hours on Thursday, reaching $79.71. 1,817,271 shares of the stock traded hands, compared to its average volume of 3,156,787. The company has a 50 day moving average price of $76.24 and a 200 day moving average price of $75.09. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $39.16 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.12 and a beta of 1.19.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analysts' expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.56%. Sysco's dividend payout ratio (DPR) is presently 52.44%.

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.