SBI Okasan Asset Management Co.Ltd. Purchases Shares of 8,400 Sysco Corporation $SYY

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Sysco Corporation (NYSE:SYY) in the 4th quarter, Holdings Channel.com reports. The fund purchased 8,400 shares of the company’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Montag A & Associates Inc. increased its holdings in shares of Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after buying an additional 123 shares during the last quarter. United Community Bank increased its holdings in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after buying an additional 125 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after buying an additional 141 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after buying an additional 143 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Sysco by 11.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock worth $108,000 after buying an additional 147 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $75.98 on Friday. The company has a market capitalization of $36.33 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 3.10 and a beta of 0.66. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The company’s fifty day moving average price is $75.17 and its 200 day moving average price is $78.10.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is presently 59.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Guggenheim cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Barclays dropped their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.15.

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.

Sysco Profile

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.