Public Employees Retirement Association of Colorado Sells 366,423 Shares of Sysco Co. (NYSE:SYY)

Public Employees Retirement Association of Colorado lessened its position in shares of Sysco Co. (NYSE:SYY) by 32.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 778,213 shares of the company’s stock after selling 366,423 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.16% of Sysco worth $55,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accretive Wealth Partners LLC boosted its stake in Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after buying an additional 212 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Sysco by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock valued at $352,000 after acquiring an additional 1,710 shares during the last quarter. Gladstone Institutional Advisory LLC grew its holdings in shares of Sysco by 10.6% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,429 shares of the company’s stock worth $324,000 after purchasing an additional 425 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Sysco by 28.3% in the fourth quarter. Franklin Resources Inc. now owns 424,407 shares of the company’s stock worth $31,037,000 after purchasing an additional 93,628 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Sysco by 8.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,824 shares of the company’s stock valued at $133,000 after purchasing an additional 142 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Finally, Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.55.

Sysco Trading Down 0.5 %

NYSE:SYY opened at $74.14 on Friday. The firm has a market capitalization of $36.44 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a fifty day moving average of $75.81 and a 200 day moving average of $75.60.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.