Kentucky Retirement Systems Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,793 shares of the company’s stock after selling 466 shares during the period. Kentucky Retirement Systems’ holdings in Sysco were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Sysco by 11.1% in 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. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 2.8 %

Shares of NYSE:SYY opened at $73.22 on Friday. The business has a 50-day moving average price of $73.96 and a 200 day moving average price of $75.68. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

Sysco (NYSE:SYY) last released 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 return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the company posted $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYY shares. Barclays decreased their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley reduced their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $84.38.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 in the last three months. 0.54% of the stock is owned by corporate insiders.

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.