New York State Common Retirement Fund Lowers Holdings in Sysco Co. (NYSE:SYY)

New York State Common Retirement Fund reduced its position in shares of Sysco Co. (NYSE:SYY) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 302,191 shares of the company’s stock after selling 17,000 shares during the period. New York State Common Retirement Fund’s holdings in Sysco were worth $23,106,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB increased its stake in Sysco by 185.5% in 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 last quarter. Foundations Investment Advisors LLC increased its position in shares of Sysco by 39.4% in the third quarter. Foundations Investment Advisors LLC now owns 9,267 shares of the company’s stock worth $723,000 after purchasing an additional 2,621 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Sysco by 11.5% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the company’s stock valued at $1,582,000 after purchasing an additional 2,093 shares during the last quarter. Private Advisor Group LLC grew its stake in Sysco by 0.5% in the 3rd quarter. Private Advisor Group LLC now owns 38,082 shares of the company’s stock worth $2,973,000 after buying an additional 187 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Sysco in the 3rd quarter worth approximately $237,000. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Melius Research upgraded 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 price objective on the stock. Finally, Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Trading Up 2.8 %

NYSE:SYY opened at $73.22 on Friday. The firm has a market capitalization of $35.82 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.87 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 company has a fifty day moving average of $73.96 and a 200 day moving average of $75.68. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS 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 quarter in the prior year, the business earned $0.89 earnings per share. On average, research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Company 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.