California Public Employees Retirement System reduced its holdings in Sysco Co. (NYSE:SYY - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,013,411 shares of the company's stock after selling 54,289 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Sysco worth $77,485,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. Schroder Investment Management Group boosted its stake in Sysco by 70.6% during the fourth quarter. Schroder Investment Management Group now owns 207,823 shares of the company's stock worth $15,869,000 after acquiring an additional 85,980 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after purchasing an additional 144 shares in the last quarter. Allianz SE acquired a new stake in shares of Sysco in the 4th quarter valued at about $1,501,000. Cambridge Financial Group Inc. bought a new stake in Sysco in the 4th quarter valued at about $7,626,000. Finally, Allstate Corp acquired a new position in Sysco during the 4th quarter worth approximately $1,124,000. 83.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on SYY. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Finally, Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $84.77.
Get Our Latest Research Report on Sysco
Sysco Stock Performance
SYY stock traded down $0.04 during midday trading on Thursday, hitting $75.27. The company's stock had a trading volume of 5,029,569 shares, compared to its average volume of 3,288,754. The stock has a market cap of $36.82 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock's 50-day moving average price is $73.11 and its 200 day moving average price is $75.10. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23.
Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates 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 company posted $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.
Sysco Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco's payout ratio is presently 52.44%.
Sysco Company Profile
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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.
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