Kentucky Retirement Systems Insurance Trust Fund Acquires 6,035 Shares of Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Sysco Co. (NYSE:SYY) by 41.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,595 shares of the company’s stock after purchasing an additional 6,035 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Sysco were worth $1,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. State Street Corp lifted its position in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Sysco in the third quarter valued at about $137,900,000. Nordea Investment Management AB raised its holdings in shares of Sysco by 52.3% in the fourth 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. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Sysco in the third quarter valued at about $44,722,000. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.38.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction 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. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 in the last 90 days. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

SYY opened at $70.10 on Wednesday. The company has a market cap of $34.30 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm’s 50-day moving average price is $74.46 and its 200-day moving average price is $75.75. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

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.