Maryland State Retirement & Pension System Has $2.01 Million Stake in Sysco Co. (NYSE:SYY)

Maryland State Retirement & Pension System decreased its stake in shares of Sysco Co. (NYSE:SYY) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,244 shares of the company’s stock after selling 2,215 shares during the period. Maryland State Retirement & Pension System’s holdings in Sysco were worth $2,007,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SYY. Boston Partners boosted its stake in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. State Street Corp boosted its stake in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Sysco during the 3rd quarter valued at approximately $137,900,000. Mondrian Investment Partners LTD bought a new stake in Sysco during the 4th quarter valued at approximately $123,928,000. Finally, Raymond James Financial Inc. bought a new stake in Sysco during the 4th quarter valued at approximately $97,078,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several recent analyst reports. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.77.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.1 %

SYY stock opened at $71.12 on Friday. The business has a fifty day moving average price of $73.10 and a 200 day moving average price of $75.36. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 earnings per share. Analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Sysco Company 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.