New York State Teachers Retirement System Sells 21,555 Shares of Sysco Co. (NYSE:SYY)

New York State Teachers Retirement System trimmed its position in shares of Sysco Co. (NYSE:SYY) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 480,770 shares of the company’s stock after selling 21,555 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Sysco worth $34,322,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYY. TruNorth Capital Management LLC purchased a new stake in Sysco during the 2nd quarter valued at about $25,000. First United Bank & Trust purchased a new stake in shares of Sysco during the 4th quarter valued at about $26,000. Verity & Verity LLC purchased a new stake in shares of Sysco during the 1st quarter valued at about $26,000. Burkett Financial Services LLC purchased a new stake in shares of Sysco during the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Sysco during the 1st quarter valued at about $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.5 %

Sysco stock opened at $77.16 on Friday. The stock has a market cap of $38.42 billion, a P/E ratio of 18.82, a PEG ratio of 2.00 and a beta of 1.18. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s 50 day moving average price is $73.65 and its 200-day moving average price is $75.96.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period last year, the firm posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. UBS Group dropped their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

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.