Mufg Securities Americas Inc. Acquires New Holdings in Sysco Co. (NYSE:SYY)

Mufg Securities Americas Inc. purchased a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,251 shares of the company's stock, valued at approximately $554,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Buckley Wealth Management LLC boosted its stake in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after purchasing an additional 386 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after buying an additional 516,585 shares during the period. Lmcg Investments LLC purchased a new position in shares of Sysco during the fourth quarter valued at $3,668,000. Finally, Nisa Investment Advisors LLC raised its position in Sysco by 18.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 218,813 shares of the company's stock valued at $16,730,000 after buying an additional 34,829 shares during the period. Institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYY. Barclays cut their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group lowered their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.38.

Sysco Stock Up 0.7%

SYY traded up $0.51 on Monday, hitting $72.95. The company had a trading volume of 2,024,127 shares, compared to its average volume of 3,362,392. The stock has a market capitalization of $35.36 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 1.88 and a beta of 0.80. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a fifty day moving average price of $71.78 and a 200-day moving average price of $74.03. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter in the prior year, the business posted $0.96 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. Analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.96%. Sysco's dividend payout ratio is 55.96%.

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.