New York State Teachers Retirement System Sells 25,000 Shares of Sysco Corporation (NYSE:SYY)

New York State Teachers Retirement System decreased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,029 shares of the company's stock after selling 25,000 shares during the period. New York State Teachers Retirement System owned 0.09% of Sysco worth $31,594,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Boston Partners grew its stake in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after buying an additional 7,184,754 shares during the period. Norges Bank bought a new position in shares of Sysco during the 4th quarter worth approximately $450,441,000. Capital Research Global Investors boosted its position in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the 4th quarter worth about $123,928,000. Finally, Canoe Financial LP boosted its stake in Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Trading Up 0.0%

NYSE SYY traded up $0.03 during trading on Thursday, hitting $77.17. The company had a trading volume of 761,121 shares, compared to its average volume of 3,225,259. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company's fifty day moving average is $73.06 and its 200-day moving average is $73.33. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a market cap of $37.41 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is 52.85%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Finally, UBS Group cut their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average target price of $83.00.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm'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 transaction, the director owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

Sysco 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.