New York State Teachers Retirement System Sells 19,473 Shares of Sysco Co. (NYSE:SYY)

New York State Teachers Retirement System reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 446,029 shares of the company’s stock after selling 19,473 shares during the quarter. New York State Teachers Retirement System’s holdings in Sysco were worth $34,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. AMF Tjanstepension AB boosted its stake in shares of Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock worth $2,446,000 after acquiring an additional 20,356 shares during the period. Creative Planning boosted its stake in shares of Sysco by 3.6% during the 3rd quarter. Creative Planning now owns 196,876 shares of the company’s stock worth $15,368,000 after acquiring an additional 6,814 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Sysco by 0.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 50,126 shares of the company’s stock worth $3,913,000 after acquiring an additional 218 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Sysco by 3.6% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 9,540 shares of the company’s stock valued at $745,000 after purchasing an additional 331 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Sysco by 9.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 61,139 shares of the company’s stock valued at $4,773,000 after purchasing an additional 5,213 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,270 shares of company stock valued at $6,181,946. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $71.10 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The stock has a market capitalization of $34.78 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The stock has a fifty day moving average of $74.88 and a 200-day moving average of $75.84.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 quarter in the previous year, the company posted $0.89 earnings per share. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SYY. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.38.

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.