Korea Investment CORP Trims Stock Position in Sysco Corporation $SYY

Korea Investment CORP reduced its stake in Sysco Corporation (NYSE:SYY) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 349,637 shares of the company’s stock after selling 127,450 shares during the quarter. Korea Investment CORP owned 0.07% of Sysco worth $28,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYY. Intech Investment Management LLC increased its stake in Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after acquiring an additional 2,000 shares during the period. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Sysco in the second quarter valued at about $1,646,000. AE Wealth Management LLC boosted its holdings in shares of Sysco by 3.9% in the second quarter. AE Wealth Management LLC now owns 18,909 shares of the company’s stock valued at $1,432,000 after acquiring an additional 718 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of Sysco by 6.7% during the second quarter. Aviva PLC now owns 366,081 shares of the company’s stock worth $27,727,000 after acquiring an additional 23,100 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.7%

SYY stock opened at $84.64 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The company’s 50-day moving average price is $82.55 and its 200 day moving average price is $79.38. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85. The company has a market cap of $40.54 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.65 and a beta of 0.58.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 annualized dividend and a yield of 2.6%. Sysco’s payout ratio is currently 58.06%.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the transaction, the director owned 12,868 shares in the company, valued at $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. This trade represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Citigroup increased their target price on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Piper Sandler raised their price target on Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 24th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Sysco in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.