Mizuho Securities USA LLC Acquires 14,669 Shares of Sysco Co. (NYSE:SYY)

Mizuho Securities USA LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 46.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,557 shares of the company’s stock after purchasing an additional 14,669 shares during the quarter. Mizuho Securities USA LLC’s holdings in Sysco were worth $3,560,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Boston Partners boosted its stake in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. State Street Corp raised its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Sysco in the 3rd quarter valued at approximately $137,900,000. Mondrian Investment Partners LTD acquired a new position in Sysco in the 4th quarter valued at approximately $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in Sysco in the 4th quarter valued at approximately $97,078,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Jefferies Financial Group upped their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays dropped their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group dropped their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.1 %

Shares of SYY opened at $71.12 on Monday. The stock has a fifty day moving average price of $73.10 and a two-hundred day moving average price of $75.32. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (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 business posted $0.89 earnings per share. Analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.