Sysco Co. (NYSE:SYY) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury increased its position in Sysco Co. (NYSE:SYY - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,192 shares of the company's stock after buying an additional 13,525 shares during the period. State of Tennessee Department of Treasury's holdings in Sysco were worth $9,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Fortem Financial Group LLC raised its holdings in Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after acquiring an additional 136 shares during the last quarter. MV Capital Management Inc. lifted its position in Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after buying an additional 144 shares during the period. Morton Community Bank grew its holdings in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after buying an additional 145 shares during the period. Nemes Rush Group LLC lifted its holdings in shares of Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after acquiring an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Barclays increased their target price on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their price objective 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.92.

Sysco Stock Down 0.6 %

NYSE SYY opened at $72.87 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The business has a 50 day moving average price of $72.75 and a two-hundred day moving average price of $74.48. The stock has a market cap of $35.65 billion, a PE ratio of 18.73, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's payout ratio is 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.

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