Sysco Co. (NYSE:SYY) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Sysco Co. (NYSE:SYY) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 109,288 shares of the company’s stock after selling 1,126 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Sysco were worth $8,872,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its stake in shares of Sysco by 68.0% during the first quarter. Avantax Advisory Services Inc. now owns 35,014 shares of the company’s stock worth $2,842,000 after purchasing an additional 14,174 shares in the last quarter. US Bancorp DE increased its stake in Sysco by 1.9% during the 1st quarter. US Bancorp DE now owns 287,846 shares of the company’s stock worth $23,367,000 after buying an additional 5,318 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Sysco by 29.5% during the first quarter. Russell Investments Group Ltd. now owns 389,515 shares of the company’s stock valued at $31,622,000 after acquiring an additional 88,769 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Sysco by 0.8% in the first quarter. QRG Capital Management Inc. now owns 31,461 shares of the company’s stock valued at $2,554,000 after acquiring an additional 247 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Finally, UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.80.

Sysco Trading Up 1.7 %

SYY traded up $1.23 during trading hours on Tuesday, reaching $73.03. The company’s stock had a trading volume of 2,685,257 shares, compared to its average volume of 3,112,823. The stock has a market cap of $36.37 billion, a PE ratio of 17.81, a P/E/G ratio of 1.94 and a beta of 1.18. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The business’s 50-day moving average is $72.66 and its 200-day moving average is $76.18.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s payout ratio is 49.76%.

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.