Teacher Retirement System of Texas Has $14,895,000 Position in Sysco Corp. (SYY)
Teacher Retirement System of Texas cut its position in Sysco Corp. (NYSE:SYY) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,921 shares of the company’s stock after selling 26,141 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of Sysco Corp. worth $14,895,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Kistler Tiffany Companies LLC raised its stake in shares of Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock worth $145,000 after buying an additional 13 shares in the last quarter. Blue Chip Partners Inc. raised its stake in Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock valued at $147,000 after buying an additional 19 shares in the last quarter. Segment Wealth Management LLC raised its stake in Sysco Corp. by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock valued at $247,000 after buying an additional 23 shares in the last quarter. Oakworth Capital Inc. raised its stake in Sysco Corp. by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock valued at $191,000 after buying an additional 34 shares in the last quarter. Finally, Hanson McClain Inc. raised its stake in Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock valued at $215,000 after buying an additional 45 shares in the last quarter. 77.33% of the stock is owned by institutional investors.
Sysco Corp. (NYSE:SYY) traded down 0.714% during mid-day trading on Wednesday, reaching $53.505. 883,496 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $50.35 and a 200-day moving average price of $50.46. Sysco Corp. has a 1-year low of $38.84 and a 1-year high of $54.66. The stock has a market cap of $29.26 billion, a P/E ratio of 29.593 and a beta of 0.49.
Sysco Corp. (NYSE:SYY) last issued its earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $14 billion for the quarter, compared to analyst estimates of $13.88 billion. Sysco Corp. had a net margin of 1.99% and a return on equity of 35.49%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Equities research analysts anticipate that Sysco Corp. will post $2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, January 4th. This is a positive change from Sysco Corp.’s previous quarterly dividend of $0.31. Sysco Corp.’s dividend payout ratio (DPR) is 68.13%.
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Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Sysco Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group AG lowered shares of Sysco Corp. from an “outperform” rating to a “neutral” rating and cut their price target for the company from $59.00 to $55.00 in a report on Wednesday, November 16th. BMO Capital Markets set a $56.00 price target on shares of Sysco Corp. and gave the company a “hold” rating in a report on Wednesday, November 9th. Barclays PLC upgraded shares of Sysco Corp. from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $48.00 to $53.00 in a report on Wednesday, November 9th. They noted that the move was a valuation call. Finally, Bank of America Corp. upgraded shares of Sysco Corp. from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Sysco Corp. has an average rating of “Hold” and an average target price of $52.63.
In other news, insider William B. Day sold 26,507 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $49.00, for a total value of $1,298,843.00. Following the transaction, the insider now owns 132,790 shares of the company’s stock, valued at approximately $6,506,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Greg D. Bertrand sold 16,500 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $50.79, for a total transaction of $838,035.00. Following the completion of the transaction, the senior vice president now directly owns 57,491 shares in the company, valued at approximately $2,919,967.89. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.
About Sysco Corp.
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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