Daiwa Securities Group Inc. Has $4.73 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Daiwa Securities Group Inc. grew its stake in Sysco Co. (NYSE:SYY) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,557 shares of the company’s stock after purchasing an additional 6,360 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Sysco were worth $4,727,000 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. Plimoth Trust Co. LLC boosted its holdings in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after buying an additional 139 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC increased its stake in Sysco by 1.6% in the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after purchasing an additional 149 shares in the last quarter. Cable Hill Partners LLC raised its holdings in Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Finally, Arrow Financial Corp boosted its position in shares of Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock worth $1,427,000 after purchasing an additional 155 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Down 0.6 %

Sysco stock opened at $76.39 on Wednesday. The company has a market cap of $37.52 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.99 and a beta of 1.20. The firm has a 50-day moving average of $75.65 and a 200-day moving average of $74.75. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.07 earnings per share. On average, equities analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SYY shares. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

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.