Mitsubishi UFJ Trust & Banking Corp Has $26.47 Million Stake in Sysco Co. (NYSE:SYY)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Sysco Co. (NYSE:SYY) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 346,192 shares of the company’s stock after acquiring an additional 40,281 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Sysco worth $26,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the period. State Street Corp raised its holdings in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Boston Partners raised its holdings in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after acquiring an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 7.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock worth $551,046,000 after acquiring an additional 521,431 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Price Performance

Shares of SYY stock opened at $73.99 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23. 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 fifty day simple moving average of $72.97 and a 200 day simple moving average of $75.18. The company has a market cap of $36.20 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) 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 that occurred on Thursday, January 2nd. The shares were 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 owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

About Sysco

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.