Korea Investment CORP Has $49.81 Million Stake in Sysco Co. (NYSE:SYY)

Korea Investment CORP lowered its stake in Sysco Co. (NYSE:SYY) by 5.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 651,423 shares of the company’s stock after selling 39,801 shares during the quarter. Korea Investment CORP’s holdings in Sysco were worth $49,808,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Summitry LLC raised its stake in shares of Sysco by 7.5% in the 4th quarter. Summitry LLC now owns 72,395 shares of the company’s stock valued at $5,535,000 after acquiring an additional 5,053 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Sysco by 13.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 346,192 shares of the company’s stock valued at $26,470,000 after purchasing an additional 40,281 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Sysco by 3.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 130,041 shares of the company’s stock valued at $9,943,000 after purchasing an additional 4,373 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Sysco by 12.8% in the fourth quarter. Zions Bancorporation N.A. now owns 1,591 shares of the company’s stock worth $122,000 after buying an additional 180 shares during the last quarter. Finally, FineMark National Bank & Trust boosted its holdings in shares of Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after buying an additional 149 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $73.99 on Friday. The stock’s 50 day simple moving average is $72.97 and its 200-day simple moving average is $75.18. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market cap of $36.20 billion, a PE ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company earned $0.89 EPS. Sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the 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 directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.