New Mexico Educational Retirement Board Sells 900 Shares of Sysco Co. (NYSE:SYY)

New Mexico Educational Retirement Board trimmed its stake in Sysco Co. (NYSE:SYY) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,494 shares of the company’s stock after selling 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Sysco were worth $1,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SYY. Ashton Thomas Securities LLC bought a new position in Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the third quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in Sysco in the fourth quarter valued at approximately $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco during the 3rd quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

Shares of NYSE SYY opened at $71.10 on Monday. The stock has a market capitalization of $34.78 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business has a fifty day moving average price of $74.88 and a two-hundred day moving average price of $75.84. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,270 shares of company stock valued at $6,181,946. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYY. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco 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.