Public Employees Retirement Association of Colorado Has $122.47 Million Stock Position in Sysco Co. (NYSE:SYY)

Public Employees Retirement Association of Colorado trimmed its position in Sysco Co. (NYSE:SYYGet Rating) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,559,091 shares of the company’s stock after selling 38,860 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.30% of Sysco worth $122,467,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. North Star Asset Management Inc. increased its position in Sysco by 0.8% in the fourth quarter. North Star Asset Management Inc. now owns 117,345 shares of the company’s stock worth $9,218,000 after purchasing an additional 970 shares during the period. National Pension Service increased its position in Sysco by 8.5% in the third quarter. National Pension Service now owns 747,330 shares of the company’s stock worth $58,665,000 after purchasing an additional 58,309 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in Sysco by 25.9% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 79,979 shares of the company’s stock worth $6,278,000 after purchasing an additional 16,442 shares during the period. BNP Paribas Arbitrage SA increased its position in Sysco by 144.6% in the third quarter. BNP Paribas Arbitrage SA now owns 393,052 shares of the company’s stock worth $30,855,000 after purchasing an additional 232,378 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Sysco by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 328,003 shares of the company’s stock worth $25,764,000 after purchasing an additional 8,164 shares during the period. Hedge funds and other institutional investors own 80.64% of the company’s stock.

In other news, EVP Greg D. Bertrand sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $90.00, for a total transaction of $4,500,000.00. Following the sale, the executive vice president now owns 32,324 shares in the company, valued at approximately $2,909,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $78.30, for a total value of $62,640.00. The disclosure for this sale can be found here. Insiders sold a total of 221,427 shares of company stock worth $19,220,747 in the last 90 days. Company insiders own 0.31% of the company’s stock.

SYY has been the subject of several analyst reports. Truist Financial initiated coverage on Sysco in a research report on Tuesday, February 1st. They set a “buy” rating and a $89.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Sysco from $82.00 to $84.00 in a research report on Wednesday, May 11th. Morgan Stanley boosted their target price on Sysco from $86.00 to $94.00 in a research report on Wednesday, May 11th. Barclays boosted their target price on Sysco from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 25th. Finally, Credit Suisse Group boosted their target price on Sysco from $97.00 to $107.00 in a research report on Wednesday, May 11th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $92.89.

NYSE SYY traded up $1.38 during trading on Tuesday, hitting $85.92. The stock had a trading volume of 1,490,745 shares, compared to its average volume of 2,622,195. The company has a market capitalization of $43.77 billion, a PE ratio of 44.29, a P/E/G ratio of 2.38 and a beta of 1.14. The company’s 50-day moving average price is $83.79 and its two-hundred day moving average price is $80.19. The company has a debt-to-equity ratio of 8.03, a quick ratio of 0.72 and a current ratio of 1.24. Sysco Co. has a 12 month low of $68.05 and a 12 month high of $91.53.

Sysco (NYSE:SYYGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.54 by $0.17. The firm had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $15.99 billion. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, equities analysts anticipate that Sysco Co. will post 3.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 1st will be paid a $0.49 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $1.96 annualized dividend and a yield of 2.28%. Sysco’s payout ratio is presently 96.91%.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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