Sysco Co. (NYSE:SYY) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Sysco Co. (NYSE:SYY) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 757,585 shares of the company’s stock after acquiring an additional 42,207 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Sysco were worth $57,925,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Townsquare Capital LLC increased its position in shares of Sysco by 10.0% in the third quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,706 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Sysco by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock worth $305,868,000 after purchasing an additional 569,058 shares during the period. Financial Counselors Inc. increased its holdings in Sysco by 5.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock valued at $843,000 after purchasing an additional 516 shares in the last quarter. Vinva Investment Management Ltd raised its position in Sysco by 13.7% in the third quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,782 shares during the period. Finally, Isthmus Partners LLC boosted its position in shares of Sysco by 2.4% in the third quarter. Isthmus Partners LLC now owns 151,405 shares of the company’s stock worth $11,819,000 after buying an additional 3,615 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SYY. Morgan Stanley dropped their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Up 0.1 %

Shares of Sysco stock opened at $74.10 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business has a 50-day moving average price of $72.99 and a 200 day moving average price of $75.15. 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 P/E ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the company posted $0.89 EPS. On average, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) 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.