Mitsubishi UFJ Asset Management Co. Ltd. Buys 44,388 Shares of Sysco Corporation $SYY

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Sysco Corporation (NYSE:SYY) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 992,020 shares of the company’s stock after buying an additional 44,388 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Sysco worth $75,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Leavell Investment Management Inc. boosted its stake in Sysco by 4.6% in the first quarter. Leavell Investment Management Inc. now owns 5,926 shares of the company’s stock worth $445,000 after buying an additional 259 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Sysco by 13.1% in the 1st quarter. Cerity Partners LLC now owns 187,646 shares of the company’s stock valued at $14,081,000 after purchasing an additional 21,757 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Sysco by 6.7% during the 1st quarter. Diversify Wealth Management LLC now owns 9,623 shares of the company’s stock valued at $676,000 after purchasing an additional 606 shares during the last quarter. Ballentine Partners LLC raised its position in Sysco by 10.2% in the 1st quarter. Ballentine Partners LLC now owns 13,169 shares of the company’s stock worth $988,000 after purchasing an additional 1,219 shares during the period. Finally, Arizona State Retirement System lifted its stake in Sysco by 3.2% in the first quarter. Arizona State Retirement System now owns 144,142 shares of the company’s stock worth $10,816,000 after purchasing an additional 4,513 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 14,598 shares of company stock valued at $1,182,438 over the last three months. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SYY. UBS Group set a $90.00 price target on Sysco in a research report on Wednesday, July 30th. Guggenheim raised their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Bank of America boosted their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Sysco Stock Up 3.2%

SYY stock opened at $75.22 on Monday. The business has a 50 day moving average of $79.44 and a 200 day moving average of $77.13. The firm has a market cap of $36.02 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The firm had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts forecast that Sysco Corporation 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, October 24th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

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.