California State Teachers Retirement System Trims Stake in Sysco Co. (NYSE:SYY)

California State Teachers Retirement System lowered its holdings in Sysco Co. (NYSE:SYY – Get Rating) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 862,729 shares of the company’s stock after selling 6,940 shares during the quarter. California State Teachers Retirement System’s holdings in Sysco were worth $61,004,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SYY. Vanguard Group Inc. lifted its position in Sysco by 1.5% during the third quarter. Vanguard Group Inc. now owns 47,155,616 shares of the company’s stock valued at $3,334,373,000 after purchasing an additional 709,072 shares during the last quarter. BlackRock Inc. grew its position in Sysco by 1.4% in the third quarter. BlackRock Inc. now owns 31,973,012 shares of the company’s stock worth $2,260,812,000 after acquiring an additional 448,790 shares in the last quarter. FMR LLC increased its stake in Sysco by 5.1% in the second quarter. FMR LLC now owns 12,638,244 shares of the company’s stock valued at $1,070,587,000 after acquiring an additional 608,222 shares during the last quarter. Victory Capital Management Inc. raised its position in Sysco by 14.9% during the third quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock valued at $521,123,000 after purchasing an additional 953,110 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Sysco by 5.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 6,508,791 shares of the company’s stock worth $460,288,000 after purchasing an additional 323,794 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

Sysco Trading Down 0.6 %

NYSE SYY opened at $74.50 on Friday. The company has a debt-to-equity ratio of 7.20, a quick ratio of 0.68 and a current ratio of 1.24. Sysco Co. has a fifty-two week low of $70.61 and a fifty-two week high of $91.53. The stock has a market cap of $37.82 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. The stock has a 50 day simple moving average of $77.20 and a two-hundred day simple moving average of $79.14.

Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). The business had revenue of $18.59 billion during the quarter, compared to analysts’ expectations of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, analysts forecast that Sysco Co. will post 4.04 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, April 5th. Sysco’s payout ratio is currently 70.76%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Sysco from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $83.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, February 1st. Credit Suisse Group reduced their target price on shares of Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, February 1st. Argus downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Finally, Bank of America started coverage on Sysco in a research note on Thursday, March 9th. They set a “buy” rating and a $90.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.67.

Sysco Company Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.