Sompo Asset Management Co. Ltd. Cuts Stake in Sysco Co. (NYSE:SYY)

Sompo Asset Management Co. Ltd. cut its stake in Sysco Co. (NYSE:SYY - Free Report) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,369 shares of the company's stock after selling 34,423 shares during the quarter. Sysco makes up approximately 1.2% of Sompo Asset Management Co. Ltd.'s investment portfolio, making the stock its 19th largest holding. Sompo Asset Management Co. Ltd.'s holdings in Sysco were worth $6,833,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SYY. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco during the 4th quarter worth $31,000. SRS Capital Advisors Inc. boosted its position in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYY shares. Guggenheim reiterated a "buy" rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped 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. Finally, UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average target price of $85.07.

Sysco Stock Down 1.2 %

SYY traded down $0.88 during trading on Monday, hitting $70.06. 1,809,958 shares of the company's stock were exchanged, compared to its average volume of 3,356,667. The stock has a market cap of $34.27 billion, a P/E ratio of 18.01, a PEG ratio of 1.88 and a beta of 0.91. The business's 50 day moving average is $72.80 and its two-hundred day moving average is $74.44. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. 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 (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. Sysco's dividend payout ratio is presently 55.53%.

Sysco Company 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.