Teacher Retirement System of Texas Decreases Stock Holdings in Sysco Corporation (NYSE:SYY)

Teacher Retirement System of Texas decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 66.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,537 shares of the company's stock after selling 564,481 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Sysco worth $21,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. SRS Capital Advisors Inc. grew its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Sysco during the 4th quarter worth about $54,000. Steward Partners Investment Advisory LLC grew its position in Sysco by 6.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,411 shares of the company's stock worth $1,561,000 after purchasing an additional 1,208 shares during the period. Charles Schwab Investment Management Inc. grew its position in Sysco by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,038,654 shares of the company's stock worth $232,335,000 after purchasing an additional 91,828 shares during the period. Finally, Keybank National Association OH grew its position in Sysco by 16.5% during the 4th quarter. Keybank National Association OH now owns 21,824 shares of the company's stock worth $1,669,000 after purchasing an additional 3,086 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock traded down $0.81 during midday trading on Friday, reaching $76.88. The company had a trading volume of 1,877,954 shares, compared to its average volume of 3,239,025. The company has a market capitalization of $37.27 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.33 and a beta of 0.81. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The firm's fifty day simple moving average is $73.27 and its 200-day simple moving average is $73.28. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly 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 company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is 55.96%.

Insiders Place Their Bets

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 value of $25,219.04. Following the transaction, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYY. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.00.

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.