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

Resona Asset Management Co. Ltd. lowered its stake in Sysco Corporation (NYSE:SYY) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after acquiring an additional 814,270 shares in the last quarter. State Street Corp boosted its holdings in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Capital Research Global Investors lifted its position in Sysco by 0.3% during the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after buying an additional 46,040 shares during the period. Wellington Management Group LLP lifted its position in Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Sysco by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock valued at $201,076,000 after buying an additional 283,706 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SYY. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Wells Fargo & Company raised their price objective on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Guggenheim lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Price Performance

SYY opened at $75.39 on Thursday. The stock has a 50-day moving average price of $76.33 and a 200-day moving average price of $78.01. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The firm 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 Corporation has a 1 year low of $68.19 and a 1 year high of $91.85.

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

Sysco Increases Dividend

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

Sysco Profile

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.