National Pension Service Increases Holdings in Sysco Co. (NYSE:SYY)

National Pension Service increased its holdings in shares of Sysco Co. (NYSE:SYY) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,006,128 shares of the company’s stock after purchasing an additional 22,631 shares during the quarter. National Pension Service’s holdings in Sysco were worth $73,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hunter Associates Investment Management LLC raised its position in shares of Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Sysco by 6.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the last quarter. Quent Capital LLC lifted its stake in Sysco by 5.0% in the 4th quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after purchasing an additional 140 shares in the last quarter. GHE LLC boosted its holdings in shares of Sysco by 1.0% during the 4th quarter. GHE LLC now owns 14,718 shares of the company’s stock valued at $1,076,000 after purchasing an additional 146 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Sysco by 0.5% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock valued at $2,457,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.7 %

Shares of SYY stock traded up $0.52 during trading hours on Thursday, reaching $75.14. 969,387 shares of the stock were exchanged, compared to its average volume of 2,947,252. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The firm has a market capitalization of $37.42 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company’s 50-day moving average price is $78.44 and its 200-day moving average price is $75.45.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SYY shares. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Piper Sandler reduced their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Truist Financial reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.56.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

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.