Sompo Asset Management Co. Ltd. reduced its stake in Sysco Co. (NYSE:SYY - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,369 shares of the company's stock after selling 34,423 shares during the period. Sysco accounts for approximately 1.2% of Sompo Asset Management Co. Ltd.'s holdings, making the stock its 19th biggest position. Sompo Asset Management Co. Ltd.'s holdings in Sysco were worth $6,833,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Fortem Financial Group LLC grew its stake in shares of Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock worth $296,000 after purchasing an additional 136 shares during the last quarter. MV Capital Management Inc. grew its position in Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank increased its holdings in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after buying an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its position in shares of Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after acquiring an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.
Sysco Trading Up 2.5 %
NYSE:SYY opened at $73.25 on Wednesday. The company's 50 day moving average is $72.72 and its 200-day moving average is $74.49. 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 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market cap of $35.84 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.88 and a beta of 0.91.
Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 period in the prior year, the firm posted $0.89 EPS. Equities analysts anticipate 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. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco's payout ratio is 52.44%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SYY. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their price target on Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.92.
Check Out Our Latest Stock Report on SYY
About Sysco
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY - Free Report).
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