Korea Investment CORP Sells 39,801 Shares of Sysco Co. (NYSE:SYY)

Korea Investment CORP reduced its position in Sysco Co. (NYSE:SYY - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 651,423 shares of the company's stock after selling 39,801 shares during the period. Korea Investment CORP owned 0.13% of Sysco worth $49,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Buckley Wealth Management LLC increased its position in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC grew its position in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after buying an additional 386 shares during the period. Captrust Financial Advisors grew its position in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company's stock worth $9,706,000 after buying an additional 8,891 shares during the period. Clark & Stuart Inc acquired a new position in Sysco in the fourth quarter valued at approximately $7,613,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in Sysco by 76.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company's stock valued at $10,256,000 after acquiring an additional 58,430 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Stock Up 0.6 %

SYY stock traded up $0.42 during trading hours on Tuesday, reaching $75.46. 2,482,425 shares of the stock were exchanged, compared to its average volume of 3,278,709. The firm's 50-day moving average is $73.07 and its 200-day moving average is $75.10. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23. The company has a market cap of $36.91 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

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Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data 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 in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYY. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target on the stock. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Guggenheim restated a "buy" rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average 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 transaction of $3,698,079.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently 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.