State of Tennessee Department of Treasury Raises Stock Position in Sysco Co. (NYSE:SYY)

State of Tennessee Department of Treasury increased its stake in Sysco Co. (NYSE:SYY - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,192 shares of the company's stock after buying an additional 13,525 shares during the quarter. State of Tennessee Department of Treasury's holdings in Sysco were worth $9,878,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Buckley Wealth Management LLC lifted its position in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock valued at $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after purchasing an additional 386 shares during the last quarter. Clark & Stuart Inc acquired a new position in Sysco during the fourth quarter valued at approximately $7,613,000. Boston Trust Walden Corp raised its position in shares of Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock valued at $61,500,000 after purchasing an additional 516,585 shares during the period. Finally, Lmcg Investments LLC bought a new stake in shares of Sysco during the 4th quarter worth $3,668,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays boosted their target price on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Finally, UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $85.07.

Sysco Trading Down 0.1 %

NYSE SYY traded down $0.09 during mid-day trading on Tuesday, reaching $70.33. 2,192,737 shares of the stock were exchanged, compared to its average volume of 3,636,056. The stock has a 50 day simple moving average of $72.79 and a 200-day simple moving average of $74.41. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market cap of $34.41 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that Sysco Co. 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 given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is currently 55.53%.

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.