Sysco Co. (NYSE:SYY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Sysco Co. (NYSE:SYY) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,104 shares of the company’s stock after selling 2,680 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Sysco were worth $2,897,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the third quarter worth about $37,000. Finally, Canoe Financial LP purchased a new stake in Sysco during the 3rd quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SYY. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Price Performance

Shares of SYY opened at $79.96 on Friday. The firm has a 50-day simple moving average of $76.40 and a two-hundred day simple moving average of $75.19. The stock has a market cap of $39.28 billion, a PE ratio of 20.56, a P/E/G ratio of 2.11 and a beta of 1.19. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock worth $2,786,971 in the last three months. 0.54% of the stock is owned by company insiders.

About Sysco

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.