Illinois Municipal Retirement Fund Sells 48,297 Shares of Sysco Co. (NYSE:SYY)

Illinois Municipal Retirement Fund lessened its holdings in Sysco Co. (NYSE:SYYGet Rating) by 56.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,180 shares of the company’s stock after selling 48,297 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Sysco were worth $2,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Sysco by 5.1% during the 2nd quarter. FMR LLC now owns 12,638,244 shares of the company’s stock valued at $1,070,587,000 after buying an additional 608,222 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Sysco by 14.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock valued at $521,123,000 after buying an additional 953,110 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Sysco by 27.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock valued at $439,437,000 after buying an additional 1,111,654 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Sysco by 3.9% during the 2nd quarter. Parnassus Investments LLC now owns 5,129,376 shares of the company’s stock valued at $434,509,000 after buying an additional 191,146 shares during the last quarter. Finally, Coho Partners Ltd. lifted its position in shares of Sysco by 4.0% during the 3rd quarter. Coho Partners Ltd. now owns 3,496,098 shares of the company’s stock valued at $247,209,000 after buying an additional 134,402 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $79.25 on Tuesday. The business’s 50-day moving average price is $81.03 and its two-hundred day moving average price is $81.54. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The stock has a market cap of $40.16 billion, a P/E ratio of 28.10, a PEG ratio of 2.09 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 9.20.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.02). Sysco had a net margin of 2.03% and a return on equity of 137.76%. The business had revenue of $19.13 billion during the quarter, compared to analysts’ expectations of $18.63 billion. As a group, equities analysts predict that Sysco Co. will post 4.14 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, January 5th. This represents a $1.96 annualized dividend and a dividend yield of 2.47%. Sysco’s dividend payout ratio (DPR) is presently 69.50%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the transaction, the executive vice president now directly owns 40,931 shares in the company, valued at approximately $3,479,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Argus upped their price target on Sysco from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Wells Fargo & Company dropped their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. Morgan Stanley increased their price objective on Sysco from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Barclays dropped their price objective on Sysco from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Finally, Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Sysco in a report on Friday, January 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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