Mitsubishi UFJ Trust & Banking Corp Sells 13,416 Shares of Sysco Co. (NYSE:SYY)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Sysco Co. (NYSE:SYY) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,104 shares of the company’s stock after selling 13,416 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Sysco worth $22,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYY. Dynamic Advisor Solutions LLC bought a new position in shares of Sysco in the 4th quarter valued at about $335,000. BKM Wealth Management LLC acquired a new position in shares of Sysco during the 4th quarter worth approximately $42,000. Advisor Resource Council bought a new stake in shares of Sysco during the 4th quarter worth approximately $221,000. SG Americas Securities LLC grew its stake in shares of Sysco by 275.5% in the fourth quarter. SG Americas Securities LLC now owns 174,613 shares of the company’s stock valued at $12,769,000 after buying an additional 128,106 shares in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new position in Sysco during the fourth quarter worth $263,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler lowered their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Sysco Stock Performance

Shares of SYY stock traded down $0.74 on Friday, hitting $73.62. The company’s stock had a trading volume of 2,038,520 shares, compared to its average volume of 3,441,111. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $36.66 billion, a PE ratio of 17.96, a PEG ratio of 1.98 and a beta of 1.18. The stock’s 50 day moving average is $72.60 and its 200-day moving average is $76.17. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 49.76%.

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.