NJ State Employees Deferred Compensation Plan Has $1.29 Million Stock Holdings in Sysco Co. (NYSE:SYY)

NJ State Employees Deferred Compensation Plan decreased its position in Sysco Co. (NYSE:SYY) by 31.9% in the 4th quarter, HoldingsChannel reports. The fund owned 17,700 shares of the company’s stock after selling 8,300 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Sysco were worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYY. AdvisorNet Financial Inc increased its stake in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Sysco by 74.6% during the 3rd 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 acquired a new stake in Sysco in the 3rd quarter valued at $38,000. BKM Wealth Management LLC bought a new stake in Sysco in the fourth quarter valued at $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in Sysco during the third quarter worth $40,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY remained flat at $77.07 during midday trading on Friday. The company’s stock had a trading volume of 2,062,039 shares, compared to its average volume of 2,875,208. The firm has a market capitalization of $38.37 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The firm has a fifty day moving average of $79.21 and a 200 day moving average of $74.68. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

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

Sysco Dividend Announcement

The firm 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. This represents a $2.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SYY shares. BMO Capital Markets upped their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays boosted their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Activity at Sysco

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

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.