Sumitomo Mitsui DS Asset Management Company Ltd Has $4.10 Million Position in Sysco Co. (NYSE:SYY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Sysco Co. (NYSE:SYY) by 6.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,990 shares of the company’s stock after acquiring 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.

Several other hedge funds have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc lifted its holdings 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 buying an additional 159 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the period. BluePath Capital Management LLC acquired a new position in Sysco during the 3rd quarter valued at $38,000. BKM Wealth Management LLC bought a new stake in Sysco in the 4th quarter valued at $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Sysco in the 3rd quarter worth $40,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sysco Stock Performance

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

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

Sysco Dividend Announcement

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

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.