Global X Japan Co. Ltd. Grows Position in Sysco Co. (NYSE:SYY)

Global X Japan Co. Ltd. grew its stake in Sysco Co. (NYSE:SYY) by 18.0% during the 4th quarter, Holdings Channel reports. The fund owned 6,994 shares of the company’s stock after acquiring an additional 1,068 shares during the period. Global X Japan Co. Ltd.’s holdings in Sysco were worth $535,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Sysco by 1.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,097 shares of the company’s stock valued at $4,748,000 after buying an additional 958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Sysco by 0.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,456 shares of the company’s stock valued at $88,728,000 after purchasing an additional 6,738 shares in the last quarter. Ledyard National Bank grew its stake in Sysco by 7.6% in the fourth quarter. Ledyard National Bank now owns 3,076 shares of the company’s stock worth $235,000 after purchasing an additional 216 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Sysco during the fourth quarter valued at approximately $328,000. Finally, Bleakley Financial Group LLC boosted its stake in Sysco by 8.8% in the fourth quarter. Bleakley Financial Group LLC now owns 13,186 shares of the company’s stock valued at $1,008,000 after acquiring an additional 1,062 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’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 transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is owned by insiders.

Sysco Stock Performance

Shares of SYY stock opened at $71.20 on Friday. The business’s 50 day moving average is $76.00 and its two-hundred day moving average is $75.95. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a market capitalization of $34.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company earned $0.89 earnings per share. Analysts expect 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 was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. UBS Group cut 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. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

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.