Teachers Retirement System of The State of Kentucky Sells 2,680 Shares of Sysco Co. (NYSE:SYY)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Sysco Co. (NYSE:SYY) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,104 shares of the company’s stock after selling 2,680 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Sysco were worth $2,897,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates raised its stake in Sysco by 2.9% during the second quarter. Raymond James & Associates now owns 1,511,632 shares of the company’s stock worth $107,915,000 after buying an additional 42,707 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Sysco by 2.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 64,113 shares of the company’s stock worth $4,577,000 after acquiring an additional 1,577 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Sysco by 3.1% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 11,509 shares of the company’s stock worth $822,000 after acquiring an additional 342 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in shares of Sysco by 29.5% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 22,658 shares of the company’s stock valued at $1,618,000 after purchasing an additional 5,161 shares during the period. Finally, Liberty One Investment Management LLC grew its stake in Sysco by 7.1% during the second quarter. Liberty One Investment Management LLC now owns 317,388 shares of the company’s stock worth $22,658,000 after purchasing an additional 21,058 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock worth $2,786,971 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $79.96 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a market cap of $39.28 billion, a PE ratio of 20.56, a PEG ratio of 2.11 and a beta of 1.19. The firm’s 50-day moving average price is $76.40 and its 200-day moving average price is $75.19.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.55%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $85.77.

About Sysco

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.