Kentucky Retirement Systems Insurance Trust Fund Sells 6,303 Shares of Sysco Corporation (NYSE:SYY)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 30.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,292 shares of the company's stock after selling 6,303 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Sysco were worth $1,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in shares of Sysco by 20.1% in the fourth quarter. Private Advisor Group LLC now owns 45,722 shares of the company's stock worth $3,496,000 after buying an additional 7,640 shares during the period. Howard Capital Management Inc. increased its position in shares of Sysco by 5.0% in the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company's stock valued at $258,000 after acquiring an additional 162 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Sysco by 41.2% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,935 shares of the company's stock valued at $7,182,000 after acquiring an additional 27,400 shares during the last quarter. Partners Wealth Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $215,000. Finally, RWC Asset Management LLP grew its stake in shares of Sysco by 25.7% in the fourth quarter. RWC Asset Management LLP now owns 646,737 shares of the company's stock worth $49,450,000 after purchasing an additional 132,168 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Stock Down 0.9%

Shares of SYY stock traded down $0.72 during mid-day trading on Wednesday, hitting $75.15. The company's stock had a trading volume of 1,509,744 shares, compared to its average volume of 3,277,604. The stock has a market cap of $36.43 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.46 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.23. The business has a 50-day moving average price of $72.58 and a 200 day moving average price of $73.47.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. Sysco's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. Research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is 55.96%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYY shares. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets cut their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Barclays decreased their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

About Sysco

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.