Sysco Co. (NYSE:SYY) Shares Purchased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd boosted its holdings in Sysco Co. (NYSE:SYY) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,513 shares of the company’s stock after acquiring an additional 1,545 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Sysco were worth $1,036,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. boosted its stake in Sysco by 17.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 9,827 shares of the company’s stock valued at $702,000 after purchasing an additional 1,465 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Sysco by 2.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 47,385 shares of the company’s stock worth $3,383,000 after acquiring an additional 1,063 shares in the last quarter. Vest Financial LLC boosted its stake in shares of Sysco by 15.5% during the 2nd quarter. Vest Financial LLC now owns 574,040 shares of the company’s stock worth $40,981,000 after acquiring an additional 77,181 shares in the last quarter. Achmea Investment Management B.V. boosted its stake in shares of Sysco by 66.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 71,970 shares of the company’s stock worth $5,138,000 after acquiring an additional 28,643 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its stake in shares of Sysco by 49.5% during the 2nd quarter. Qsemble Capital Management LP now owns 20,576 shares of the company’s stock worth $1,469,000 after acquiring an additional 6,812 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. BMO Capital Markets decreased their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. Finally, Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Up 0.9 %

SYY stock opened at $77.18 on Tuesday. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a market cap of $38.43 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The business’s 50-day simple moving average is $75.49 and its 200 day simple moving average is $75.64. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the company posted $1.34 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Sysco 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.