Sysco Co. (NYSE:SYY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,607 shares of the company’s stock after selling 6,783 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Sysco worth $20,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. AE Wealth Management LLC boosted its stake in shares of Sysco by 3.6% in the third quarter. AE Wealth Management LLC now owns 34,356 shares of the company’s stock valued at $2,269,000 after buying an additional 1,207 shares in the last quarter. CX Institutional boosted its position in Sysco by 681.3% during the third quarter. CX Institutional now owns 33,113 shares of the company’s stock worth $2,187,000 after purchasing an additional 28,875 shares in the last quarter. DeDora Capital Inc. boosted its position in Sysco by 59.0% during the third quarter. DeDora Capital Inc. now owns 5,988 shares of the company’s stock worth $395,000 after purchasing an additional 2,222 shares in the last quarter. Cahaba Wealth Management Inc. boosted its position in Sysco by 9.9% during the third quarter. Cahaba Wealth Management Inc. now owns 3,265 shares of the company’s stock worth $216,000 after purchasing an additional 294 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of Sysco by 1.9% in the third quarter. WASHINGTON TRUST Co now owns 230,572 shares of the company’s stock worth $15,229,000 after buying an additional 4,233 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY traded down $0.22 during trading hours on Thursday, hitting $77.07. 2,326,046 shares of the company were exchanged, compared to its average volume of 2,894,744. The company has a market capitalization of $38.37 billion, a PE ratio of 18.90, a PEG ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The firm has a fifty day simple moving average of $79.26 and a 200-day simple moving average of $74.67. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. Sysco’s payout ratio is currently 48.90%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYY shares. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets raised their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Barclays raised their target price on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Stephens raised their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Activity

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

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.