Norinchukin Bank The Increases Stock Position in Sysco Co. (NYSE:SYY)

Norinchukin Bank The boosted its position in shares of Sysco Co. (NYSE:SYY) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,140 shares of the company’s stock after purchasing an additional 2,356 shares during the period. Norinchukin Bank The’s holdings in Sysco were worth $1,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Buckley Wealth Management LLC boosted its holdings in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of Sysco by 9.9% in the 4th 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 in the last quarter. Clark & Stuart Inc bought a new position in shares of Sysco during the fourth quarter worth about $7,613,000. Boston Trust Walden Corp raised its stake in Sysco by 179.5% during the fourth 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. Finally, Lmcg Investments LLC bought a new position in Sysco during the 4th quarter worth approximately $3,668,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 1.4 %

Sysco stock opened at $71.71 on Monday. The company’s 50-day moving average price is $72.67 and its two-hundred day moving average price is $74.53. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.88 and a beta of 0.91. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the business earned $0.89 earnings per share. On average, analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYY shares. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.