Sysco Co. (NYSE:SYY) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its holdings in Sysco Co. (NYSE:SYY) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 130,041 shares of the company’s stock after acquiring an additional 4,373 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Sysco were worth $9,943,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new position in shares of Sysco during the 3rd quarter valued at approximately $464,000. Intech Investment Management LLC lifted its stake in Sysco by 86.6% in the third quarter. Intech Investment Management LLC now owns 26,576 shares of the company’s stock valued at $2,075,000 after buying an additional 12,332 shares during the last quarter. Nwam LLC bought a new stake in Sysco during the 3rd quarter valued at $469,000. Cerity Partners LLC lifted its holdings in Sysco by 4.5% in the 3rd quarter. Cerity Partners LLC now owns 174,343 shares of the company’s stock valued at $13,609,000 after acquiring an additional 7,430 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Sysco by 84.5% during the third quarter. Larson Financial Group LLC now owns 2,234 shares of the company’s stock worth $174,000 after purchasing an additional 1,023 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 firms have weighed in on SYY. UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.42 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market cap of $34.94 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock’s fifty day simple moving average is $73.05 and its two-hundred day simple moving average is $75.26. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 earnings per share. As a group, analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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 value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company 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.