Illinois Municipal Retirement Fund Has $9.46 Million Stock Position in Sysco Co. (NYSE:SYY)

Illinois Municipal Retirement Fund decreased its position in Sysco Co. (NYSE:SYY) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,331 shares of the company’s stock after selling 22,191 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sysco were worth $9,458,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SYY. AE Wealth Management LLC grew its stake in shares of Sysco by 3.6% in the 3rd quarter. AE Wealth Management LLC now owns 34,356 shares of the company’s stock valued at $2,269,000 after purchasing an additional 1,207 shares during the period. IFP Advisors Inc grew its stake in shares of Sysco by 33.6% in the 3rd quarter. IFP Advisors Inc now owns 7,278 shares of the company’s stock valued at $481,000 after purchasing an additional 1,831 shares during the period. Naples Global Advisors LLC grew its stake in shares of Sysco by 6.6% in the 3rd quarter. Naples Global Advisors LLC now owns 3,221 shares of the company’s stock valued at $213,000 after purchasing an additional 200 shares during the period. Riverwater Partners LLC bought a new stake in shares of Sysco in the 3rd quarter valued at approximately $370,000. Finally, NovaPoint Capital LLC grew its stake in shares of Sysco by 5.9% in the 3rd quarter. NovaPoint Capital LLC now owns 43,929 shares of the company’s stock valued at $2,902,000 after purchasing an additional 2,443 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sysco Stock Down 0.5 %

NYSE SYY opened at $76.94 on Wednesday. The stock has a fifty day moving average of $79.29 and a 200-day moving average of $74.65. The stock has a market capitalization of $38.30 billion, a P/E ratio of 18.81, 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 debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Insider Activity at Sysco

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

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.