Kentucky Retirement Systems Decreases Stake in Sysco Co. (NYSE:SYY)

Kentucky Retirement Systems decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,793 shares of the company’s stock after selling 466 shares during the quarter. Kentucky Retirement Systems’ holdings in Sysco were worth $2,584,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service lifted its stake in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the last quarter. New England Asset Management Inc. lifted its stake in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. Empowered Funds LLC lifted its stake in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock valued at $5,965,519 over the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective 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. Finally, Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently 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 cap of $35.82 billion, a P/E ratio of 18.82, a PEG ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock’s 50 day simple moving average is $73.96 and its 200-day simple moving average is $75.68. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company earned $0.89 EPS. Equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

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.