Tokio Marine Asset Management Co. Ltd. Increases Stock Position in Sysco Co. (NYSE:SYY)

Tokio Marine Asset Management Co. Ltd. increased its stake in Sysco Co. (NYSE:SYY) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,872 shares of the company’s stock after acquiring an additional 720 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Sysco were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYY. Wealthfront Advisers LLC grew its holdings in shares of Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after buying an additional 24,650 shares during the last quarter. Professional Advisory Services Inc. acquired a new position in shares of Sysco during the fourth quarter worth about $20,057,000. Harbour Trust & Investment Management Co purchased a new stake in shares of Sysco in the fourth quarter valued at about $4,623,000. Pacer Advisors Inc. raised its stake in Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock worth $6,014,000 after purchasing an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sysco by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after acquiring an additional 41,618 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts have commented on SYY shares. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Stephens increased their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Stock Performance

NYSE SYY traded up $0.36 on Friday, hitting $77.43. The stock had a trading volume of 158,815 shares, compared to its average volume of 2,859,998. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The stock has a market cap of $38.55 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.58 and a beta of 1.15. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company’s 50-day moving average is $79.21 and its two-hundred day moving average is $74.68.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter last year, the company posted $0.80 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.58%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

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.