Sysco Co. (NYSE:SYY) Stock Position Lessened by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in Sysco Co. (NYSE:SYY) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,244 shares of the company’s stock after selling 2,215 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sysco were worth $2,007,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the period. Boston Partners lifted its holdings in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock valued at $551,046,000 after buying an additional 521,431 shares during the period. Montrusco Bolton Investments Inc. lifted its holdings in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.1 %

NYSE:SYY opened at $71.12 on Friday. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The business’s fifty day moving average price is $73.10 and its 200 day moving average price is $75.36.

Sysco (NYSE:SYY) last posted its quarterly earnings results 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the business earned $0.89 EPS. On average, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Insiders Place Their Bets

In other Sysco news, 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.