Dai ichi Life Insurance Company Ltd Reduces Stock Position in Sysco Co. (NYSE:SYY)

Dai ichi Life Insurance Company Ltd trimmed its position in Sysco Co. (NYSE:SYY) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,924 shares of the company’s stock after selling 682 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Sysco were worth $1,018,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First United Bank & Trust acquired a new position in shares of Sysco in the 4th quarter valued at $26,000. AdvisorNet Financial Inc raised its holdings in shares of Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Headlands Technologies LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $34,000. JFS Wealth Advisors LLC grew its holdings in shares of Sysco by 39.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 141 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new stake in Sysco during the 3rd quarter worth approximately $40,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Morgan Stanley decreased their target price on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets dropped their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Truist Financial reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.11.

Sysco Stock Up 0.1 %

Shares of SYY traded up $0.08 during trading on Friday, reaching $72.95. The company’s stock had a trading volume of 2,249,342 shares, compared to its average volume of 3,259,305. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.94 and a beta of 1.16. The company has a fifty day moving average of $77.09 and a two-hundred day moving average of $76.15.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.

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.