Sysco Co. (NYSE:SYY) Holdings Raised by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its position in Sysco Co. (NYSE:SYY) by 19.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 52,342 shares of the company’s stock after purchasing an additional 8,384 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Sysco were worth $4,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Sysco by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares in the last quarter. State Street Corp grew its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Boston Partners grew its stake in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock worth $551,046,000 after purchasing an additional 521,431 shares during the period. Finally, Janus Henderson Group PLC increased its position in Sysco by 4.1% in the 3rd 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 during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reduced 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, Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

Shares of SYY stock opened at $74.10 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23. 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 has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm has a fifty day moving average of $72.99 and a 200-day moving average of $75.15.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm earned $0.89 earnings per share. On average, equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity at Sysco

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

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.