Vestcor Inc Sells 14,976 Shares of Sysco Co. (NYSE:SYY)

Vestcor Inc reduced its stake in Sysco Co. (NYSE:SYY - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,961 shares of the company's stock after selling 14,976 shares during the period. Vestcor Inc's holdings in Sysco were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp boosted its stake in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Primecap Management Co. CA boosted its stake in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. grew its holdings in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock worth $366,789,000 after acquiring an additional 375,409 shares during the period. Janus Henderson Group PLC raised its position in Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company's stock worth $332,983,000 after acquiring an additional 168,163 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sysco by 17.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company's stock worth $305,868,000 after acquiring an additional 569,058 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

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Sysco Stock Down 2.8 %

Shares of NYSE SYY traded down $2.06 during mid-day trading on Wednesday, reaching $72.30. The company had a trading volume of 5,902,352 shares, compared to its average volume of 3,108,002. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market capitalization of $35.37 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.88 and a beta of 1.11. The stock has a fifty day moving average of $73.27 and a two-hundred day moving average of $75.46. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 business posted $0.89 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's payout ratio is currently 52.44%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYY shares. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.77.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

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.