Treasurer of the State of North Carolina Has $16.97 Million Stock Position in Sysco Co. (NYSE:SYY)

Treasurer of the State of North Carolina lowered its stake in Sysco Co. (NYSE:SYY) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 221,903 shares of the company’s stock after selling 1,890 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Sysco were worth $16,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Boston Partners boosted its stake in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Norges Bank bought a new stake in shares of Sysco in the fourth quarter valued at about $450,441,000. Mondrian Investment Partners LTD bought a new position in shares of Sysco during the fourth quarter worth about $123,928,000. Raymond James Financial Inc. acquired a new stake in Sysco in the 4th quarter valued at approximately $97,078,000. Finally, Nordea Investment Management AB lifted its stake in Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Up 1.0 %

SYY opened at $70.39 on Friday. The stock’s fifty day simple moving average is $72.61 and its 200 day simple moving average is $74.76. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The stock has a market cap of $34.44 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm earned $0.89 EPS. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

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.