Sysco Co. (NYSE:SYY) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in Sysco Co. (NYSE:SYY) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 757,585 shares of the company’s stock after purchasing an additional 42,207 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.15% of Sysco worth $57,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after buying an additional 429,711 shares during the period. State Street Corp raised its position in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Boston Partners lifted its holdings in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after acquiring an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 7.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock worth $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Sysco in the 4th quarter valued at about $450,441,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.10 on Friday. The company has a 50-day simple moving average of $72.99 and a 200-day simple moving average of $75.15. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a market cap of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.