Arizona State Retirement System lessened its holdings in shares of SYSCO Co. (NYSE:SYY) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,864 shares of the company’s stock after selling 47,402 shares during the quarter. Arizona State Retirement System’s holdings in SYSCO were worth $10,255,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Exane Derivatives boosted its position in shares of SYSCO by 137.8% during the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after acquiring an additional 28,217 shares during the last quarter. FDx Advisors Inc. boosted its position in shares of SYSCO by 27.6% during the 3rd quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after acquiring an additional 7,652 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in shares of SYSCO during the 3rd quarter valued at about $393,000. Chicago Partners Investment Group LLC boosted its position in shares of SYSCO by 637.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Quantum Capital Management bought a new stake in shares of SYSCO during the 3rd quarter valued at about $863,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.
Shares of SYSCO Co. (NYSE SYY) opened at $60.00 on Monday. The firm has a market capitalization of $31,260.00, a P/E ratio of 26.91, a P/E/G ratio of 2.01 and a beta of 0.56. SYSCO Co. has a 12-month low of $48.85 and a 12-month high of $64.27. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.
A number of analysts have recently issued reports on the company. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a research report on Tuesday, January 16th. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Jefferies Group set a $67.00 price target on SYSCO and gave the company a “hold” rating in a research report on Monday, February 5th. BMO Capital Markets set a $74.00 price target on SYSCO and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Loop Capital lifted their price target on SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. SYSCO has a consensus rating of “Buy” and an average target price of $65.20.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now directly owns 69,721 shares in the company, valued at $4,236,247.96. The disclosure for this sale can be found here. Insiders sold a total of 144,695 shares of company stock valued at $8,759,223 in the last 90 days. 9.60% of the stock is currently owned by corporate insiders.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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