Norinchukin Bank The Has $1.77 Million Holdings in Sysco Co. (NYSE:SYY)

by · The Markets Daily

Norinchukin Bank The grew its position in Sysco Co. (NYSE:SYY – Free Report) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,140 shares of the company’s stock after buying an additional 2,356 shares during the quarter. Norinchukin Bank The’s holdings in Sysco were worth $1,769,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco during the fourth quarter valued at $31,000. SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC lifted its position in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 1.4 %

Shares of NYSE:SYY opened at $71.71 on Monday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock’s 50-day moving average is $72.67 and its 200-day moving average is $74.53. The company has a market cap of $35.08 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23.

Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 EPS. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SYY shares. Barclays dropped their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

View Our Latest Research Report on SYY

About Sysco

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY – Free Report).