Teacher Retirement System of Texas Purchases 17,790 Shares of Sysco Corporation $SYY

Teacher Retirement System of Texas boosted its position in Sysco Corporation (NYSE:SYY) by 6.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,327 shares of the company’s stock after buying an additional 17,790 shares during the period. Teacher Retirement System of Texas’ holdings in Sysco were worth $22,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Sysco in the 2nd quarter valued at about $1,371,000. Transcend Capital Advisors LLC increased its position in Sysco by 2.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,419 shares of the company’s stock valued at $486,000 after buying an additional 148 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Sysco by 8.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,517,244 shares of the company’s stock valued at $114,916,000 after buying an additional 118,379 shares in the last quarter. Wealthfront Advisers LLC increased its position in Sysco by 22.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 81,747 shares of the company’s stock valued at $6,192,000 after buying an additional 14,834 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Sysco by 4.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 100,620 shares of the company’s stock valued at $7,621,000 after purchasing an additional 4,375 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 14,732 shares of company stock valued at $1,193,245. 0.56% of the stock is owned by insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $77.93 on Tuesday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The stock’s 50 day moving average price is $80.50 and its 200-day moving average price is $76.93. The company has a market capitalization of $37.29 billion, a PE ratio of 20.89, a PEG ratio of 2.39 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the business earned $1.39 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 3rd. Sysco’s payout ratio is presently 57.91%.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Guggenheim lifted their price target on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Citigroup lifted their price target on Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.