National Pension Service Grows Stock Position in Sysco Corporation (NYSE:SYY)

Key Points

• The National Pension Service increased its stake in Sysco Corporation by 5.9% during the 1st quarter, holding approximately 0.18% of the company worth $65 million.
• Several institutional investors, including Mondrian Investment Partners and Resona Asset Management, also increased their positions in Sysco, with institutional ownership reaching 83.41%.
• Sysco reported quarterly earnings of $1.48 EPS, surpassing estimates, with a year-over-year revenue growth of 2.8%, totaling $21.14 billion.

National Pension Service increased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 866,511 shares of the company's stock after buying an additional 48,407 shares during the quarter. National Pension Service owned about 0.18% of Sysco worth $65,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mondrian Investment Partners LTD raised its position in shares of Sysco by 10.3% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,874,125 shares of the company's stock valued at $140,634,000 after buying an additional 174,621 shares during the period. Resona Asset Management Co. Ltd. grew its stake in shares of Sysco by 12.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 184,590 shares of the company's stock valued at $13,806,000 after buying an additional 21,125 shares in the last quarter. Rathbones Group PLC grew its stake in shares of Sysco by 1.2% in the first quarter. Rathbones Group PLC now owns 93,755 shares of the company's stock valued at $7,035,000 after buying an additional 1,075 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Sysco by 7.8% in the first quarter. Public Sector Pension Investment Board now owns 66,195 shares of the company's stock worth $4,967,000 after acquiring an additional 4,813 shares in the last quarter. Finally, Linscomb Wealth Inc. grew its stake in shares of Sysco by 57.9% in the first quarter. Linscomb Wealth Inc. now owns 5,195 shares of the company's stock worth $390,000 after acquiring an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company's 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 transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,740 shares of company stock valued at $6,256,893 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Sysco Stock Performance

NYSE SYY opened at $81.25 on Friday. 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 1 year low of $67.12 and a 1 year high of $82.64. The company has a market capitalization of $39.38 billion, a PE ratio of 21.78, a P/E/G ratio of 2.55 and a beta of 0.83. The company has a fifty day moving average of $77.55 and a two-hundred day moving average of $74.08.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SYY. Guggenheim boosted their price target on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets dropped their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley boosted their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, Truist Financial boosted their price target 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. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Company 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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