Sysco Corporation $SYY Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in shares of Sysco Corporation (NYSE:SYY) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 183,597 shares of the company’s stock after selling 10,242 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Sysco were worth $15,092,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after buying an additional 1,226,381 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Sysco by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock worth $946,694,000 after acquiring an additional 183,179 shares in the last quarter. Norges Bank purchased a new stake in Sysco during the second quarter worth approximately $493,686,000. Charles Schwab Investment Management Inc. boosted its holdings in Sysco by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock valued at $237,212,000 after purchasing an additional 27,693 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Sysco by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock valued at $201,076,000 after purchasing an additional 283,706 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup cut their price objective on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Piper Sandler decreased their price objective on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Monday, December 29th. Finally, Morgan Stanley reduced their target price on Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.75.

Sysco Trading Down 0.9%

NYSE:SYY opened at $76.18 on Monday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company has a current ratio of 1.15, a quick ratio of 0.65 and a debt-to-equity ratio of 5.54. The stock’s 50 day simple moving average is $74.97 and its 200-day simple moving average is $77.74. The firm has a market cap of $36.48 billion, a P/E ratio of 20.42, a PEG ratio of 2.51 and a beta of 0.61.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The firm had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, January 2nd. Sysco’s dividend payout ratio is currently 57.91%.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.