Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Sysco Co. (NYSE:SYY - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 857,747 shares of the company's stock after acquiring an additional 54,472 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Sysco worth $64,700,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in Sysco in the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after purchasing an additional 321 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on SYY. Wells Fargo & Company increased their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Guggenheim reissued a "buy" rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $84.77.
View Our Latest Report on SYY
Sysco Stock Down 0.2 %
Shares of SYY stock traded down $0.17 on Wednesday, hitting $75.26. The company's stock had a trading volume of 694,250 shares, compared to its average volume of 3,607,602. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm's fifty day moving average price is $73.07 and its 200-day moving average price is $75.10.
Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 in the previous year, the company earned $0.89 earnings per share. Research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.
Sysco Dividend Announcement
The company 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 $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. Sysco's payout ratio is presently 52.44%.
Insider Buying and Selling
In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.
Sysco Profile
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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.
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