KLP Kapitalforvaltning AS Invests $31.52 Million in Sysco Co. (NYSE:SYY)

KLP Kapitalforvaltning AS purchased a new position in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 412,200 shares of the company’s stock, valued at approximately $31,517,000. KLP Kapitalforvaltning AS owned approximately 0.08% of Sysco as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. Prospera Financial Services Inc boosted its position in shares of Sysco by 8.1% during the third quarter. Prospera Financial Services Inc now owns 13,939 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,041 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Sysco during the third quarter worth $464,000. Intech Investment Management LLC raised its holdings in shares of Sysco by 86.6% during the third quarter. Intech Investment Management LLC now owns 26,576 shares of the company’s stock worth $2,075,000 after acquiring an additional 12,332 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Sysco during the third quarter worth $754,000. Finally, Trustmark National Bank Trust Department acquired a new stake in shares of Sysco during the third quarter worth $200,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of SYY stock opened at $71.12 on Friday. The company has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a 50-day simple moving average of $73.10 and a 200 day simple moving average of $75.34. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 quarter in the prior year, the business posted $0.89 earnings per share. On average, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays lowered their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

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.