Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of SYSCO Co. (NYSE:SYY) by 81.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,579 shares of the company’s stock after acquiring an additional 122,369 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.05% of SYSCO worth $12,438,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SYY. BlackRock Inc. boosted its stake in shares of SYSCO by 1.1% in the first quarter. BlackRock Inc. now owns 33,950,393 shares of the company’s stock worth $1,549,157,000 after acquiring an additional 369,879 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in SYSCO by 27.8% in the 4th quarter. Janus Henderson Group PLC now owns 9,603,984 shares of the company’s stock valued at $821,522,000 after purchasing an additional 2,091,470 shares in the last quarter. Parnassus Investments CA lifted its holdings in SYSCO by 1.4% in the 4th quarter. Parnassus Investments CA now owns 8,159,515 shares of the company’s stock valued at $697,965,000 after purchasing an additional 110,167 shares in the last quarter. Geode Capital Management LLC boosted its stake in SYSCO by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 7,026,718 shares of the company’s stock worth $599,696,000 after purchasing an additional 222,256 shares during the last quarter. Finally, Yacktman Asset Management LP grew its holdings in shares of SYSCO by 61.9% during the first quarter. Yacktman Asset Management LP now owns 6,157,606 shares of the company’s stock worth $280,972,000 after buying an additional 2,353,956 shares in the last quarter. 79.59% of the stock is owned by institutional investors and hedge funds.
In other SYSCO news, Director Joshua D. Frank acquired 600,000 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $47.42 per share, with a total value of $28,452,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. bought 703,700 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $51.38 per share, for a total transaction of $36,156,106.00. The disclosure for this purchase can be found here. 5.24% of the stock is owned by corporate insiders.
SYY traded down $0.73 on Friday, hitting $51.75. The company had a trading volume of 3,526,597 shares, compared to its average volume of 5,359,087. The company’s fifty day moving average price is $49.70 and its 200 day moving average price is $68.68. SYSCO Co. has a 1 year low of $26.00 and a 1 year high of $85.98. The company has a current ratio of 1.49, a quick ratio of 0.93 and a debt-to-equity ratio of 5.21. The firm has a market cap of $26.64 billion, a P/E ratio of 15.53, a PEG ratio of 2.78 and a beta of 1.15.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.08). SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The company had revenue of $13.70 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. SYSCO’s revenue was down 6.5% on a year-over-year basis. On average, analysts predict that SYSCO Co. will post 2.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 3rd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, April 2nd. SYSCO’s payout ratio is 50.70%.
A number of equities analysts recently weighed in on SYY shares. JPMorgan Chase & Co. lowered their price target on shares of SYSCO from $78.00 to $47.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. BMO Capital Markets cut SYSCO from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $88.00 to $51.00 in a report on Thursday, April 23rd. Jefferies Financial Group cut their price target on SYSCO from $66.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Argus lowered SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Zacks Investment Research cut SYSCO from a “hold” rating to a “sell” rating and set a $62.00 target price for the company. in a report on Saturday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.23.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
Featured Story: Compound Interest
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).
Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.