Sysco Co. (NYSE:SYY) Stake Boosted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of Sysco Co. (NYSE:SYY) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 189,653 shares of the company’s stock after purchasing an additional 3,889 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Sysco were worth $14,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new stake in shares of Sysco during the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Sysco during the 2nd quarter worth approximately $38,000. Canoe Financial LP bought a new stake in shares of Sysco in the 3rd quarter worth approximately $38,000. Finally, LRI Investments LLC acquired a new position in Sysco during the 1st quarter valued at approximately $45,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYY. Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley cut their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.77.

Sysco Trading Up 0.9 %

Shares of SYY stock opened at $77.01 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a 50-day simple moving average of $76.17 and a 200 day simple moving average of $74.74. Sysco Co. has a fifty-two week low of $66.27 and a fifty-two week high of $82.89. The stock has a market capitalization of $37.83 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is presently 52.44%.

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.