Sysco Corporation (NYSE:SYY) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its holdings in Sysco Corporation by 10.5%, now owning approximately $71.11 million worth of shares as of its latest SEC filing.
• Sysco reported quarterly earnings of $1.48 per share, exceeding analysts' expectations of $1.39, with revenues reaching $21.14 billion.
• Several brokerages have recently upgraded Sysco's stock rating, with Barclays raising the price target to $82.00 and Guggenheim increasing it further to $87.00.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947,632 shares of the company's stock after acquiring an additional 89,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Sysco worth $71,110,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Ironwood Investment Counsel LLC grew its stake in shares of Sysco by 0.8% during the 1st quarter. Ironwood Investment Counsel LLC now owns 114,383 shares of the company's stock valued at $8,583,000 after buying an additional 881 shares during the period. Arjuna Capital purchased a new stake in shares of Sysco during the 1st quarter valued at $1,286,000. Waycross Partners LLC grew its stake in shares of Sysco by 26.3% during the 1st quarter. Waycross Partners LLC now owns 293,352 shares of the company's stock valued at $22,013,000 after buying an additional 61,027 shares during the period. Deutsche Bank AG grew its stake in shares of Sysco by 20.4% during the 1st quarter. Deutsche Bank AG now owns 1,695,885 shares of the company's stock valued at $127,259,000 after buying an additional 286,788 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after buying an additional 143 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on SYY shares. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Guggenheim upped their price target on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Bank of America upped their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Stock Performance

NYSE SYY traded down $0.81 on Monday, hitting $79.84. The stock had a trading volume of 3,373,961 shares, compared to its average volume of 3,354,856. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.50 and a beta of 0.83. The company's 50-day moving average is $76.94 and its two-hundred day moving average is $73.91.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. Sysco's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

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.