KLP Kapitalforvaltning AS Acquires Shares of 412,200 Sysco Co. (NYSE:SYY)

KLP Kapitalforvaltning AS acquired a new stake in Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 412,200 shares of the company’s stock, valued at approximately $31,517,000.

A number of other institutional investors have also recently bought and sold shares of SYY. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.1 %

Shares of NYSE SYY opened at $71.12 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The firm has a 50 day moving average price of $73.10 and a two-hundred day moving average price of $75.34. The stock has a market cap of $34.79 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYY. Wells Fargo & Company upped their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.77.

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.