Sysco Corporation $SYY Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its position in shares of Sysco Corporation (NYSE:SYY) by 39.4% during the 1st quarter, HoldingsChannel reports. The fund owned 98,809 shares of the company’s stock after purchasing an additional 27,925 shares during the period. South Dakota Investment Council’s holdings in Sysco were worth $7,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SYY. Vanguard Group Inc. grew its stake in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after acquiring an additional 814,270 shares during the period. State Street Corp lifted its position in shares of Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after acquiring an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter worth approximately $542,780,000. Finally, Morgan Stanley increased its position in shares of Sysco by 9.0% during the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after purchasing an additional 500,881 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

Sysco Stock Down 0.8%

Shares of SYY opened at $84.65 on Friday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock has a fifty day simple moving average of $80.28 and a two-hundred day simple moving average of $80.10. The company has a market capitalization of $40.53 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Corporation will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley raised their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Guggenheim dropped their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays lowered their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.