Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in SYSCO Co. (NYSE:SYY) by 21.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,241 shares of the company’s stock after selling 10,934 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SYSCO were worth $2,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Chip Partners Inc. bought a new position in shares of SYSCO during the second quarter worth approximately $104,000. Quad Cities Investment Group LLC bought a new position in shares of SYSCO during the second quarter worth approximately $111,000. Flagship Harbor Advisors LLC bought a new position in shares of SYSCO during the second quarter worth approximately $121,000. Daiwa SB Investments Ltd. bought a new position in shares of SYSCO during the third quarter worth approximately $132,000. Finally, Fort L.P. bought a new position in shares of SYSCO during the second quarter worth approximately $123,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the stock. Pivotal Research raised their target price on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a report on Saturday, August 18th. Loop Capital raised their target price on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Argus raised their target price on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. BMO Capital Markets raised their target price on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Finally, Morgan Stanley raised their target price on shares of SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.54.

Shares of NYSE:SYY opened at $65.09 on Wednesday. The company has a market capitalization of $34.51 billion, a P/E ratio of 20.73, a PEG ratio of 1.88 and a beta of 0.56. The company has a current ratio of 1.30, a quick ratio of 0.80 and a debt-to-equity ratio of 3.00. SYSCO Co. has a 1 year low of $54.55 and a 1 year high of $75.98.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The firm had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. As a group, equities analysts predict that SYSCO Co. will post 3.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.40%. This is a boost from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 3rd. SYSCO’s dividend payout ratio (DPR) is 45.86%.

In related news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $66.17, for a total value of $330,850.00. Following the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at $466,829.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of SYSCO stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the transaction, the director now directly owns 4,005 shares in the company, valued at $299,614.05. The disclosure for this sale can be found here. Insiders sold 6,176,196 shares of company stock worth $443,878,713 over the last three months. 7.88% of the stock is currently owned by insiders.

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About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

Read More: Market Capitalization – What it Means for Investors

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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