Resona Asset Management Co. Ltd. Makes New $12.52 Million Investment in Sysco Co. (NYSE:SYY)

Resona Asset Management Co. Ltd. purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 163,465 shares of the company's stock, valued at approximately $12,519,000.

Several other institutional investors also recently bought and sold shares of the business. Buckley Wealth Management LLC grew its stake in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock valued at $1,391,000 after acquiring an additional 150 shares during the period. WR Wealth Planners LLC grew its position in shares of Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after purchasing an additional 386 shares during the period. Clark & Stuart Inc purchased a new stake in shares of Sysco during the fourth quarter worth about $7,613,000. Kovitz Investment Group Partners LLC raised its position in shares of Sysco by 76.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company's stock worth $10,256,000 after purchasing an additional 58,430 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Sysco by 179.5% in the 4th quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock valued at $61,500,000 after buying an additional 516,585 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.7 %

Sysco stock traded up $0.47 during mid-day trading on Friday, reaching $70.15. 633,730 shares of the company's stock were exchanged, compared to its average volume of 3,314,035. The company has a fifty day moving average of $72.63 and a 200-day moving average of $74.80. The company has a market cap of $34.32 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23.

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Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 prior year, the company earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. Sysco's payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Guggenheim reissued a "buy" rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. UBS Group dropped their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Finally, StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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.