Kentucky Retirement Systems Has $2.67 Million Stock Position in Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems cut its stake in shares of Sysco Co. (NYSE:SYY) by 8.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,259 shares of the company’s stock after selling 3,267 shares during the quarter. Kentucky Retirement Systems’ holdings in Sysco were worth $2,674,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its stake in shares of Sysco by 10.3% during the first quarter. Orion Portfolio Solutions LLC now owns 27,360 shares of the company’s stock valued at $2,221,000 after purchasing an additional 2,552 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Sysco during the 1st quarter worth approximately $250,000. Edgestream Partners L.P. bought a new stake in Sysco during the 1st quarter worth approximately $489,000. Covestor Ltd increased its position in Sysco by 323.2% in the 1st quarter. Covestor Ltd now owns 1,151 shares of the company’s stock valued at $93,000 after acquiring an additional 879 shares during the period. Finally, Trustmark National Bank Trust Department bought a new position in shares of Sysco during the first quarter valued at $256,000. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Down 0.0 %

Sysco stock opened at $74.95 on Monday. The firm’s fifty day moving average is $75.93 and its 200 day moving average is $74.74. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a market capitalization of $36.82 billion, a PE ratio of 19.27, a PEG ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

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.