Sysco Co. (NYSE:SYY) Stake Decreased by Korea Investment CORP

Korea Investment CORP trimmed its holdings in Sysco Co. (NYSE:SYY) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,423 shares of the company’s stock after selling 39,801 shares during the quarter. Korea Investment CORP owned about 0.13% of Sysco worth $49,808,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of Sysco during the third quarter valued at about $464,000. Larson Financial Group LLC increased its stake in Sysco by 84.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,234 shares of the company’s stock valued at $174,000 after buying an additional 1,023 shares during the period. Brooklyn Investment Group bought a new stake in shares of Sysco during the 3rd quarter worth about $98,000. Transamerica Financial Advisors Inc. lifted its stake in shares of Sysco by 19.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,346 shares of the company’s stock worth $184,000 after acquiring an additional 383 shares during the period. Finally, Townsquare Capital LLC boosted its holdings in shares of Sysco by 10.0% in the third quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock valued at $1,464,000 after acquiring an additional 1,706 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. UBS Group dropped their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 1.7 %

Sysco stock opened at $73.99 on Friday. The company has a 50 day moving average price of $72.97 and a 200 day moving average price of $75.18. 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 $82.23. The firm has a market capitalization of $36.20 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.76%. Sysco’s dividend payout ratio is 52.44%.

Insider Transactions at Sysco

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is 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.