Resona Asset Management Co. Ltd. Sells 8,467 Shares of Sysco Corporation $SYY

Resona Asset Management Co. Ltd. trimmed its holdings in Sysco Corporation (NYSE:SYY) by 4.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 175,130 shares of the company’s stock after selling 8,467 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Sysco were worth $12,945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. bought a new position in shares of Sysco during the 3rd quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of Sysco during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new position in shares of Sysco during the 4th quarter valued at approximately $28,000. Navalign LLC bought a new position in shares of Sysco during the 4th quarter valued at approximately $29,000. Finally, Peterson Wealth Services grew its stake in shares of Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after acquiring an additional 324 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Argus upgraded Sysco to a “hold” rating in a research note on Thursday, January 29th. Jefferies Financial Group boosted their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Finally, UBS Group lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Stock Up 0.3%

NYSE SYY opened at $75.39 on Thursday. The stock’s 50 day moving average is $76.33 and its 200 day moving average is $78.01. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The stock has a market cap of $36.05 billion, a PE ratio of 20.88, a P/E/G ratio of 3.07 and a beta of 0.66.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Research analysts predict that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s payout ratio is currently 59.83%.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.