Nomura Asset Management Co. Ltd. Boosts Stock Position in Sysco Co. (NYSE:SYY)

Nomura Asset Management Co. Ltd. boosted its holdings in Sysco Co. (NYSE:SYY - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 757,585 shares of the company's stock after acquiring an additional 42,207 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Sysco worth $57,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Vanguard Group Inc. grew its position in shares of Sysco by 0.7% in 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 during the last quarter. State Street Corp lifted its stake in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Boston Partners lifted 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 in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 7.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock valued at $551,046,000 after buying an additional 521,431 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at $450,441,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company's stock, 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 document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYY. Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a "hold" rating and a $85.00 target price on the stock. Finally, Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $84.77.

Sysco Trading Down 0.1 %

SYY stock traded down $0.09 during midday trading on Wednesday, reaching $75.33. 815,268 shares of the company's stock traded hands, compared to its average volume of 3,609,734. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The business has a 50-day moving average price of $73.07 and a two-hundred day moving average price of $75.10. The company has a market capitalization of $36.85 billion, a P/E ratio of 19.37, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last posted its 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 quarter last year, the business posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 annualized dividend and a dividend yield of 2.71%. Sysco's payout ratio is currently 52.44%.

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.