Korea Investment CORP Sells 239,492 Shares of Sysco Corporation $SYY

Key Points

• Korea Investment CORP has reduced its stake in Sysco Corporation by 36.8%, selling 239,492 shares and now holding 411,931 shares valued at approximately $30.9 million.
• Several institutional investors have made significant changes to their positions in Sysco, with 83.41% of the stock now owned by institutional investors.
• Sysco recently reported an earnings per share (EPS) of $1.48 for the last quarter, exceeding expectations and showing a revenue increase of 2.8% year-over-year.

Korea Investment CORP decreased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 36.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 411,931 shares of the company's stock after selling 239,492 shares during the period. Korea Investment CORP owned 0.08% of Sysco worth $30,911,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC lifted its position in shares of Sysco by 3.4% during the fourth quarter. Jump Financial LLC now owns 12,413 shares of the company's stock valued at $949,000 after buying an additional 403 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Sysco during the 4th quarter worth approximately $2,021,000. MML Investors Services LLC lifted its position in Sysco by 11.0% during the fourth quarter. MML Investors Services LLC now owns 56,568 shares of the company's stock valued at $4,325,000 after acquiring an additional 5,594 shares during the last quarter. Transce3nd LLC acquired a new stake in Sysco in the fourth quarter valued at approximately $88,000. Finally, Tower Research Capital LLC TRC grew its holdings in Sysco by 231.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 37,574 shares of the company's stock worth $2,873,000 after purchasing an additional 26,229 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SYY. BMO Capital Markets decreased their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Stock Performance

Shares of SYY stock opened at $79.3680 on Wednesday. The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.64. The business has a 50 day simple moving average of $77.81 and a 200 day simple moving average of $74.23.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock worth $6,766,059 over the last three months. 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.

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