California Public Employees Retirement System Has $68.83 Million Position in Sysco Co. (NYSE:SYY)

California Public Employees Retirement System reduced its stake in Sysco Co. (NYSE:SYY) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 941,181 shares of the company’s stock after selling 21,831 shares during the period. California Public Employees Retirement System’s holdings in Sysco were worth $68,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hunter Associates Investment Management LLC grew its stake in shares of Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after buying an additional 135 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Sysco by 5.0% in the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after acquiring an additional 140 shares during the last quarter. DeDora Capital Inc. lifted its holdings in shares of Sysco by 2.6% in the fourth quarter. DeDora Capital Inc. now owns 6,145 shares of the company’s stock worth $449,000 after acquiring an additional 157 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by insiders.

Sysco Stock Performance

Shares of SYY stock opened at $77.07 on Friday. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The firm has a 50 day moving average of $79.21 and a 200-day moving average of $74.68.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. On average, equities analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is 48.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYY shares. Stephens increased their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Barclays raised their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets increased their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

About Sysco

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.