Mizuho Securities USA LLC Boosts Stake in Sysco Co. (NYSE:SYY)

Mizuho Securities USA LLC boosted its position in Sysco Co. (NYSE:SYY - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,557 shares of the company's stock after buying an additional 14,669 shares during the period. Mizuho Securities USA LLC's holdings in Sysco were worth $3,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the fourth quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the fourth quarter worth about $31,000. SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the fourth 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 lifted its holdings in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

SYY traded down $1.14 during trading on Tuesday, reaching $70.29. The company's stock had a trading volume of 1,578,229 shares, compared to its average volume of 3,134,436. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a fifty day simple moving average of $73.05 and a two-hundred day simple moving average of $75.26. The company has a market cap of $34.39 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

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Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 posted $0.89 earnings per share. As a group, analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. Sysco's dividend payout ratio is currently 52.44%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Melius Research upgraded Sysco to a "hold" rating in a research report on Wednesday, December 18th. Finally, UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company's stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Sysco 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.