Daiwa Securities Group Inc. Has $6.01 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Daiwa Securities Group Inc. grew its stake in Sysco Co. (NYSE:SYY) by 29.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,625 shares of the company’s stock after purchasing an additional 18,068 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Sysco were worth $6,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. State Street Corp raised its position in shares of 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. Massachusetts Financial Services Co. MA acquired a new position in shares of Sysco in the 3rd quarter valued at $137,900,000. Raymond James Financial Inc. acquired a new position in shares of Sysco in the 4th quarter valued at $97,078,000. Nordea Investment Management AB increased its position in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after buying an additional 933,327 shares in the last quarter. Finally, Amundi raised its stake in Sysco by 42.2% during the 4th quarter. Amundi now owns 2,730,010 shares of the company’s stock worth $204,341,000 after buying an additional 809,582 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of NYSE SYY opened at $73.69 on Thursday. 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 50 day moving average price of $73.38 and a 200 day moving average price of $75.56. The stock has a market capitalization of $36.05 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm posted $0.89 earnings per share. Analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction 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 approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYY shares. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

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.