State of New Jersey Common Pension Fund D Cuts Stock Position in Sysco Co. (NYSE:SYY)

State of New Jersey Common Pension Fund D lessened its holdings in Sysco Co. (NYSE:SYYFree Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,390 shares of the company’s stock after selling 6,874 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Sysco worth $19,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC increased its holdings in shares of Sysco by 263.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after acquiring an additional 24,650 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Sysco by 0.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 204,219 shares of the company’s stock valued at $15,153,000 after acquiring an additional 1,918 shares during the last quarter. Main Street Financial Solutions LLC boosted its position in shares of Sysco by 2.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 8,685 shares of the company’s stock valued at $644,000 after purchasing an additional 234 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Sysco in the 2nd quarter valued at about $3,246,000. Finally, Liberty One Investment Management LLC boosted its position in shares of Sysco by 5.8% in the 2nd quarter. Liberty One Investment Management LLC now owns 276,159 shares of the company’s stock valued at $20,491,000 after purchasing an additional 15,106 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

Sysco Stock Up 0.3 %

Shares of Sysco stock opened at $79.55 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The firm has a market cap of $40.12 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.61 and a beta of 1.17. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The business has a 50-day moving average price of $75.48 and a 200 day moving average price of $71.40.

Sysco (NYSE:SYYGet Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, sell-side analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were issued a $0.50 dividend. The ex-dividend date was Thursday, January 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. Sysco’s payout ratio is currently 48.90%.

Insider Activity

In other news, Director Sheila Talton sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $71.76, for a total value of $157,872.00. Following the sale, the director now directly owns 12,782 shares of the company’s stock, valued at $917,236.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets upped their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Sysco in a research report on Thursday, October 19th. They issued a “buy” rating and a $75.00 target price for the company. Morgan Stanley upped their target price on Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Barclays increased their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.44.

Read Our Latest Research Report on Sysco

Sysco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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