Mitsubishi UFJ Asset Management Co. Ltd. Buys 54,472 Shares of Sysco Co. (NYSE:SYY)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Sysco Co. (NYSE:SYY) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 857,747 shares of the company’s stock after acquiring an additional 54,472 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Sysco were worth $64,700,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYY. Fortem Financial Group LLC increased its position in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after buying an additional 136 shares during the period. Morton Community Bank increased its holdings in Sysco by 0.4% during the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after acquiring an additional 145 shares during the period. SRS Capital Advisors Inc. lifted its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares in the last quarter. FineMark National Bank & Trust grew its position in shares of Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after purchasing an additional 149 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Sysco by 10.7% in the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $74.10 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm has a market cap of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The business has a 50 day moving average price of $72.99 and a 200-day moving average price of $75.15.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several recent analyst reports. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $84.77.

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.