Sysco Corporation $SYY Holdings Decreased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Sysco Corporation (NYSE:SYY) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 234,872 shares of the company’s stock after selling 14,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sysco were worth $19,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SYY. 1620 Investment Advisors Inc. lifted its position in shares of Sysco by 2.6% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock worth $404,000 after buying an additional 126 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Sysco by 0.3% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 40,852 shares of the company’s stock worth $3,364,000 after acquiring an additional 130 shares during the period. Facet Wealth Inc. lifted its holdings in Sysco by 1.2% in the second quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after acquiring an additional 131 shares during the last quarter. Ellis Investment Partners LLC boosted its stake in Sysco by 4.9% in the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock valued at $214,000 after acquiring an additional 133 shares during the period. Finally, Silver Oak Securities Incorporated grew its holdings in shares of Sysco by 4.0% during the third quarter. Silver Oak Securities Incorporated now owns 3,493 shares of the company’s stock valued at $288,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research report on Monday, December 29th. Piper Sandler reduced their price target on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Guggenheim lifted their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Citigroup decreased their target price on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $85.75.

Sysco Stock Performance

SYY stock opened at $75.67 on Tuesday. The company has a 50-day simple moving average of $74.98 and a 200 day simple moving average of $77.73. The company has a market capitalization of $36.23 billion, a P/E ratio of 20.29, a PEG ratio of 2.51 and a beta of 0.61. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47.

Sysco (NYSE:SYY) last released its quarterly 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. The company had revenue of $21.15 billion for the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. Sysco’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.9%. Sysco’s payout ratio is presently 57.91%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.