New Mexico Educational Retirement Board Sells 900 Shares of Sysco Co. (NYSE:SYY)

New Mexico Educational Retirement Board lowered its position in shares of Sysco Co. (NYSE:SYY) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 23,494 shares of the company’s stock after selling 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Sysco were worth $1,796,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the 4th quarter valued at about $31,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Focused Wealth Management Inc bought a new stake in shares of Sysco in the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco in the 3rd quarter valued at about $38,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock worth $6,181,946 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 1.1 %

SYY stock opened at $71.10 on Monday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. 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 is $74.88 and its 200-day moving average is $75.84. The firm has a market capitalization of $34.78 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm earned $0.89 EPS. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

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.