New York State Common Retirement Fund Sells 17,000 Shares of Sysco Co. (NYSE:SYY)

New York State Common Retirement Fund decreased its position in shares of Sysco Co. (NYSE:SYY) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,191 shares of the company’s stock after selling 17,000 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Sysco worth $23,106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SYY. State Street Corp increased its stake in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of 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 acquiring an additional 672,940 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after acquiring an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its position in Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after acquiring an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Up 2.8 %

NYSE:SYY opened at $73.22 on Friday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. 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 firm’s 50 day moving average is $73.96 and its 200 day moving average is $75.68. The stock has a market capitalization of $35.82 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 firm earned $0.89 EPS. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on SYY shares. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Barclays dropped their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.