Tokio Marine Asset Management Co. Ltd. Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Sysco Co. (NYSE:SYY) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,872 shares of the company’s stock after acquiring an additional 720 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Sysco were worth $1,380,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after buying an additional 1,076,287 shares during the period. Northern Trust Corp raised its stake in Sysco by 3.0% in the third quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after buying an additional 178,464 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sysco by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after purchasing an additional 265,621 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Sysco by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after acquiring an additional 21,700 shares during the period. Finally, Clarkston Capital Partners LLC boosted its holdings in Sysco by 0.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after purchasing an additional 9,385 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Sysco Stock Up 0.5 %

Shares of Sysco stock traded up $0.36 during trading on Friday, reaching $77.43. 158,815 shares of the company traded hands, compared to its average volume of 2,859,998. The firm has a market capitalization of $38.55 billion, a PE ratio of 18.84, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a 50 day moving average price of $79.21 and a 200-day moving average price of $74.68. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Analyst Ratings Changes

Several brokerages recently issued reports on SYY. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Barclays raised their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets lifted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

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.