California State Teachers Retirement System Reduces Position in Sysco Corporation $SYY

California State Teachers Retirement System trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 626,416 shares of the company’s stock after selling 18,204 shares during the quarter. California State Teachers Retirement System’s holdings in Sysco were worth $44,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Montag A & Associates Inc. boosted its position in shares of Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares during the period. United Community Bank raised its holdings in shares of Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after buying an additional 125 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after buying an additional 138 shares during the period. Octavia Wealth Advisors LLC lifted its stake in shares of Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after acquiring an additional 141 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after acquiring an additional 143 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

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. The business has a fifty day simple moving average of $80.28 and a two-hundred day simple moving average of $80.10. The firm has a market cap of $40.53 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.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 posted $0.96 earnings per share. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, April 28th. Sanford C. Bernstein decreased their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Barclays cut their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, UBS Group reduced 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 equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.00.

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.