New York State Common Retirement Fund Raises Holdings in Sysco Corporation (NYSE:SYY)

New York State Common Retirement Fund boosted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,691 shares of the company's stock after acquiring an additional 21,500 shares during the period. New York State Common Retirement Fund owned 0.07% of Sysco worth $24,290,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SYY. BankPlus Trust Department grew its stake in Sysco by 5.9% in the 1st quarter. BankPlus Trust Department now owns 18,698 shares of the company's stock worth $1,403,000 after buying an additional 1,042 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Sysco by 3.2% in the 1st quarter. Arizona State Retirement System now owns 144,142 shares of the company's stock worth $10,816,000 after acquiring an additional 4,513 shares during the last quarter. Ballentine Partners LLC grew its position in Sysco by 10.2% during the 1st quarter. Ballentine Partners LLC now owns 13,169 shares of the company's stock worth $988,000 after acquiring an additional 1,219 shares during the last quarter. Diversify Wealth Management LLC grew its position in Sysco by 6.7% during the 1st quarter. Diversify Wealth Management LLC now owns 9,623 shares of the company's stock worth $676,000 after acquiring an additional 606 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Sysco by 2.1% during the 1st quarter. Xponance Inc. now owns 116,897 shares of the company's stock valued at $8,772,000 after buying an additional 2,356 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. Barclays lowered their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Bank of America upped their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley boosted their target price on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $83.23.

Sysco Stock Up 0.9%

NYSE SYY traded up $0.69 on Friday, hitting $78.60. 382,598 shares of the stock were exchanged, compared to its average volume of 3,234,018. The company has a market cap of $38.10 billion, a PE ratio of 20.34, a PEG ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a 50-day moving average price of $74.42 and a 200-day moving average price of $73.31.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate 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 issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 55.96%.

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.