Texas Permanent School Fund Corp Trims Stock Position in Sysco Co. (NYSE:SYY)

Texas Permanent School Fund Corp reduced its stake in Sysco Co. (NYSE:SYY) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,284 shares of the company’s stock after selling 20,490 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Sysco were worth $5,874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Accretive Wealth Partners LLC increased its stake in shares of Sysco by 1.0% in the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after purchasing an additional 212 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Sysco by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after buying an additional 1,710 shares in the last quarter. Principal Securities Inc. bought a new stake in Sysco during the fourth quarter valued at about $418,000. AGF Management Ltd. lifted its position in shares of Sysco by 83.8% in the fourth quarter. AGF Management Ltd. now owns 6,750 shares of the company’s stock valued at $494,000 after acquiring an additional 3,078 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Sysco by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock worth $222,029,000 after acquiring an additional 240,671 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SYY shares. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets reduced their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.27.

Sysco Trading Down 2.9 %

SYY opened at $76.21 on Thursday. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a 50-day moving average of $75.07 and a 200 day moving average of $75.76. The firm has a market cap of $37.95 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, research analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

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.