Louisiana State Employees Retirement System Sells 1,300 Shares of Sysco Co. (NYSE:SYY)

Louisiana State Employees Retirement System lessened its stake in shares of Sysco Co. (NYSE:SYY) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,400 shares of the company’s stock after selling 1,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Sysco were worth $2,019,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter worth $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the third quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the fourth quarter worth about $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the third quarter valued at approximately $37,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco in the third quarter valued at approximately $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 1.1 %

SYY opened at $71.10 on Friday. The company has a fifty day moving average price of $75.07 and a two-hundred day moving average price of $75.86. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market cap of $34.78 billion, a P/E ratio of 18.28, a price-to-earnings-growth 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.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 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 business posted $0.89 earnings per share. Analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock valued at $6,181,946 over the last ninety days. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SYY shares. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Four research 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 data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

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.