Sysco Co. (NYSE:SYY) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Sysco Co. (NYSE:SYY) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,990 shares of the company’s stock after buying an additional 3,612 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Sysco were worth $4,095,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. AdvisorNet Financial Inc lifted its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Sysco during the third quarter valued at about $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Sysco during the third quarter worth about $40,000. Finally, AllSquare Wealth Management LLC acquired a new position in shares of Sysco in the third quarter worth about $42,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $77.33 on Tuesday. The stock has a market capitalization of $38.50 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15. The firm’s 50-day moving average price is $79.33 and its two-hundred day moving average price is $74.55. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYY. Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Barclays boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.38.

About Sysco

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.