Nomura Asset Management Co. Ltd. Boosts Holdings in Sysco Co. (NYSE:SYY)

Nomura Asset Management Co. Ltd. raised its stake in Sysco Co. (NYSE:SYY - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 715,378 shares of the company's stock after purchasing an additional 55,691 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Sysco worth $55,842,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYY. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the third quarter valued at approximately $26,000. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the 3rd quarter worth $31,000. Finally, Focused Wealth Management Inc acquired a new stake in Sysco in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares of the company's stock, valued at $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company's stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock valued at $2,786,971 over the last three months. 0.54% of the stock is currently owned by insiders.

Sysco Stock Performance

SYY traded down $0.25 during trading on Tuesday, hitting $80.82. 3,695,523 shares of the company traded hands, compared to its average volume of 3,166,851. The firm has a market cap of $39.70 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock's fifty day moving average is $76.12 and its 200 day moving average is $74.99.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to analysts' expectations of $20.47 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is currently 52.44%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.77.

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.