Illinois Municipal Retirement Fund Lowers Position in Sysco Co. (NYSE:SYY)

Illinois Municipal Retirement Fund lessened its position in Sysco Co. (NYSE:SYYGet Rating) by 56.5% in the third quarter, HoldingsChannel reports. 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 SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Smith Shellnut Wilson LLC ADV lifted its stake in shares of Sysco by 2.6% in the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 8,695 shares of the company’s stock valued at $615,000 after purchasing an additional 217 shares during the period. CIBC Asset Management Inc raised its stake in Sysco by 7.4% during the third quarter. CIBC Asset Management Inc now owns 85,871 shares of the company’s stock valued at $6,072,000 after buying an additional 5,936 shares during the last quarter. Creative Planning raised its stake in Sysco by 1.9% during the third quarter. Creative Planning now owns 173,771 shares of the company’s stock valued at $12,287,000 after buying an additional 3,185 shares during the last quarter. Strengthening Families & Communities LLC raised its stake in Sysco by 14.4% during the third quarter. Strengthening Families & Communities LLC now owns 6,533 shares of the company’s stock valued at $461,000 after buying an additional 822 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its stake in Sysco by 26.0% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,067 shares of the company’s stock valued at $1,419,000 after buying an additional 4,138 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 stock has a 50-day simple moving average of $81.03 and a two-hundred day simple moving average of $81.54. Sysco Co. has a 52-week low of $70.61 and a 52-week high of $91.53. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a market capitalization of $40.16 billion, a PE ratio of 28.10, a P/E/G ratio of 2.09 and a beta of 1.11.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.97 earnings per share (EPS) 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 company had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $18.63 billion. Analysts forecast that Sysco Co. will post 4.14 EPS for the current year.

Sysco Announces Dividend

The firm 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 $0.49 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $1.96 annualized dividend and a dividend yield of 2.47%. Sysco’s payout ratio is 69.50%.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Sysco from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 21st. Argus lifted their price objective on Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Wells Fargo & Company cut their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, January 4th. Finally, Stephens reaffirmed an “overweight” rating and issued 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.60.

Insider Activity

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

Sysco 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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