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

KLP Kapitalforvaltning AS bought a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 412,200 shares of the company's stock, valued at approximately $31,517,000. KLP Kapitalforvaltning AS owned approximately 0.08% of Sysco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter valued at about $31,000. Sherman Asset Management Inc. bought a new stake in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's 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 sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. 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. Guggenheim reiterated a "buy" rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Finally, Barclays dropped 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Price Performance

NYSE SYY traded down $1.05 on Tuesday, reaching $70.38. 3,397,306 shares of the stock traded hands, compared to its average volume of 3,134,436. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm's fifty day simple moving average is $73.05 and its 200 day simple moving average is $75.26. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 last year, the company earned $0.89 EPS. As a group, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, April 4th. Sysco's payout ratio is 52.44%.

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.