Sompo Asset Management Co. Ltd. Sells 5,146 Shares of Sysco Co. (NYSE:SYY)

Sompo Asset Management Co. Ltd. trimmed its position in Sysco Co. (NYSE:SYY) by 4.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 111,201 shares of the company’s stock after selling 5,146 shares during the period. Sysco accounts for approximately 1.3% of Sompo Asset Management Co. Ltd.’s investment portfolio, making the stock its 18th biggest position. Sompo Asset Management Co. Ltd.’s holdings in Sysco were worth $7,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Sysco in the second quarter valued at about $25,000. Burkett Financial Services LLC bought a new position in Sysco in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new stake in Sysco during the 1st quarter worth approximately $31,000. Fairman Group LLC bought a new stake in Sysco during the 4th quarter worth approximately $39,000. Finally, Livelsberger Financial Advisory bought a new stake in Sysco during the 4th quarter worth approximately $44,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $75.19 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The business’s fifty day moving average is $75.87 and its 200 day moving average is $75.57. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.6 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, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is currently 49.76%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Truist Financial reduced their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

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.