National Pension Service Decreases Stock Position in Sysco Co. (NYSE:SYY)

National Pension Service lessened its position in Sysco Co. (NYSE:SYY) by 33.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 818,104 shares of the company’s stock after selling 418,913 shares during the quarter. National Pension Service owned about 0.17% of Sysco worth $62,552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA lifted its position in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its position in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYY shares. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company raised their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group cut 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Trading Up 0.6 %

Shares of NYSE SYY opened at $74.68 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. 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 fifty day simple moving average of $73.69 and a 200-day simple moving average of $75.64. The stock has a market capitalization of $36.54 billion, a PE ratio of 19.20, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 21,844 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 transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock valued at $5,965,519 in the last three months. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.