Oregon Public Employees Retirement Fund Grows Position in SYSCO Co. (NYSE:SYY)

Oregon Public Employees Retirement Fund raised its holdings in shares of SYSCO Co. (NYSE:SYY) by 6.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 108,319 shares of the company’s stock after purchasing an additional 6,694 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in SYSCO were worth $9,266,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its holdings in shares of SYSCO by 1.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 19,219 shares of the company’s stock valued at $1,644,000 after purchasing an additional 262 shares during the period. Tower Bridge Advisors lifted its position in SYSCO by 87.8% in the fourth quarter. Tower Bridge Advisors now owns 4,695 shares of the company’s stock valued at $402,000 after buying an additional 2,195 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in SYSCO by 59.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 150,210 shares of the company’s stock valued at $12,670,000 after buying an additional 56,052 shares during the last quarter. Corient Capital Partners LLC lifted its position in SYSCO by 7.2% in the fourth quarter. Corient Capital Partners LLC now owns 15,540 shares of the company’s stock valued at $1,329,000 after buying an additional 1,038 shares during the last quarter. Finally, First National Trust Co lifted its position in SYSCO by 36.3% in the fourth quarter. First National Trust Co now owns 129,984 shares of the company’s stock valued at $11,118,000 after buying an additional 34,609 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on SYY shares. Loop Capital upped their target price on shares of SYSCO to $86.00 and gave the company a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets decreased their target price on shares of SYSCO from $94.00 to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (down previously from $94.00) on shares of SYSCO in a research report on Tuesday, January 14th. Piper Jaffray Companies assumed coverage on shares of SYSCO in a research report on Thursday, December 12th. They set an “overweight” rating and a $94.00 price target on the stock. Finally, Wells Fargo & Co cut shares of SYSCO from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $90.00 to $75.00 in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $79.20.

In related news, EVP Robert S. Charlton sold 28,948 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $80.43, for a total value of $2,328,287.64. Following the sale, the executive vice president now owns 46,087 shares of the company’s stock, valued at $3,706,777.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Bene sold 39,384 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.00, for a total transaction of $3,347,640.00. Following the completion of the sale, the chief executive officer now directly owns 132,929 shares in the company, valued at approximately $11,298,965. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,028 shares of company stock worth $13,690,242. 5.24% of the stock is owned by corporate insiders.

Shares of SYY opened at $76.73 on Tuesday. The company’s 50-day simple moving average is $82.70 and its 200-day simple moving average is $78.89. The stock has a market capitalization of $39.34 billion, a PE ratio of 21.99, a P/E/G ratio of 2.06 and a beta of 0.48. SYSCO Co. has a 1 year low of $65.24 and a 1 year high of $85.98. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.74 and a current ratio of 1.25.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, February 3rd. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $15.11 billion. SYSCO had a net margin of 3.00% and a return on equity of 78.49%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, sell-side analysts predict that SYSCO Co. will post 3.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a $0.45 dividend. This is a boost from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 2nd. This represents a $1.80 annualized dividend and a yield of 2.35%. SYSCO’s dividend payout ratio (DPR) is 50.70%.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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