Sysco Co. (NYSE:SYY) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Sysco Co. (NYSE:SYY) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,331 shares of the company’s stock after selling 22,191 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sysco were worth $9,458,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SYY. AdvisorNet Financial Inc lifted its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the period. Hexagon Capital Partners LLC lifted its position in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. BluePath Capital Management LLC purchased a new position in Sysco during the third quarter worth about $38,000. Milestone Investment Advisors LLC purchased a new position in Sysco during the third quarter worth about $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in Sysco during the third quarter worth about $42,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $76.94 on Wednesday. The stock’s 50-day moving average is $79.29 and its 200-day moving average is $74.65. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. Equities analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. Sysco’s payout ratio is currently 48.90%.

Analysts Set New Price Targets

SYY has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.38.

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.