Sumitomo Mitsui DS Asset Management Company Ltd Purchases 319 Shares of Sysco Co. (NYSE:SYY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Sysco Co. (NYSE:SYY) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,926 shares of the company’s stock after purchasing an additional 319 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Sysco were worth $3,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth $25,000. First United Bank & Trust acquired a new stake in shares of Sysco during the 4th quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in Sysco in the first quarter valued at about $31,000. Burkett Financial Services LLC acquired a new position in Sysco in the fourth quarter worth about $30,000. Finally, Headlands Technologies LLC bought a new position in Sysco during the fourth quarter worth about $34,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets dropped their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Stock Up 0.6 %

Shares of NYSE:SYY opened at $77.97 on Friday. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The firm has a market cap of $38.32 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.03 and a beta of 1.18. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company’s 50-day moving average price is $74.07 and its two-hundred day moving average price is $75.86.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter last year, the business posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.