Teacher Retirement System of Texas Acquires 52,464 Shares of Sysco Co. (NYSE:SYY)

Teacher Retirement System of Texas raised its holdings in shares of Sysco Co. (NYSE:SYY) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 847,018 shares of the company’s stock after purchasing an additional 52,464 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sysco were worth $64,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SYY. Buckley Wealth Management LLC raised its stake in shares of Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC increased its position in shares of Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after buying an additional 386 shares during the period. Captrust Financial Advisors increased its position in shares of Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares during the period. Clark & Stuart Inc bought a new stake in shares of Sysco during the fourth quarter valued at about $7,613,000. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Sysco by 76.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after buying an additional 58,430 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Price Performance

SYY stock opened at $72.30 on Thursday. The firm has a market cap of $35.37 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.88 and a beta of 1.11. The firm’s fifty day moving average is $73.22 and its 200 day moving average is $75.44. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.