Sysco Corporation $SYY Shares Bought by South Dakota Investment Council

South Dakota Investment Council lifted its holdings in Sysco Corporation (NYSE:SYY) by 39.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 98,809 shares of the company’s stock after buying an additional 27,925 shares during the quarter. South Dakota Investment Council’s holdings in Sysco were worth $7,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock worth $27,307,000 after purchasing an additional 27,510 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock valued at $30,445,000 after purchasing an additional 35,647 shares during the last quarter. Nicholas Company Inc. acquired a new stake in shares of Sysco in the 4th quarter worth $2,278,000. Norges Bank acquired a new stake in shares of Sysco in the 4th quarter worth $542,780,000. Finally, Banque Cantonale Vaudoise grew its stake in Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after buying an additional 12,641 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYY shares. Sanford C. Bernstein decreased their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Piper Sandler lowered their target price on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Citigroup reissued a “neutral” rating on shares of Sysco in a research report on Wednesday, July 22nd. Finally, UBS Group cut their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sysco currently has an average rating of “Hold” and an average price target of $88.00.

Insider Activity

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.

Sysco Trading Down 0.8%

Shares of NYSE:SYY opened at $84.65 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The stock has a market cap of $40.53 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 3.36 and a beta of 0.64. The business has a 50-day moving average price of $80.28 and a 200-day moving average price of $80.10.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. During the same quarter in the prior year, the company earned $0.96 EPS. Sysco’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Sysco Corporation will post 4.59 EPS for the current year.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.