Daiwa Securities Group Inc. Has $4.73 Million Holdings in Sysco Co. (NYSE:SYY)

Daiwa Securities Group Inc. raised its position in shares of Sysco Co. (NYSE:SYY) by 11.7% in the third quarter, HoldingsChannel reports. The fund owned 60,557 shares of the company’s stock after acquiring an additional 6,360 shares during the period. Daiwa Securities Group Inc.’s holdings in Sysco were worth $4,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in SYY. TruNorth Capital Management LLC bought a new stake in Sysco in the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. lifted 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 worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new stake in Sysco in the 3rd quarter worth about $37,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price 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. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Down 0.6 %

SYY opened at $76.39 on Wednesday. The company has a market cap of $37.52 billion, a P/E ratio of 19.64, a PEG ratio of 1.99 and a beta of 1.20. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company’s 50 day moving average is $75.65 and its 200-day moving average is $74.75. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

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

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.67%. Sysco’s dividend payout ratio is presently 52.44%.

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.