Daiwa Securities Group Inc. Buys 693 Shares of SYSCO Co. (NYSE:SYY)

Daiwa Securities Group Inc. boosted its stake in shares of SYSCO Co. (NYSE:SYY) by 2.3% during the third quarter, Holdings Channel.com reports. The fund owned 30,742 shares of the company’s stock after acquiring an additional 693 shares during the period. Daiwa Securities Group Inc.’s holdings in SYSCO were worth $2,441,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SYY. Krane Funds Advisors LLC acquired a new stake in shares of SYSCO in the 2nd quarter valued at $25,000. SRS Capital Advisors Inc. acquired a new stake in shares of SYSCO in the 2nd quarter valued at $28,000. Coastal Capital Group Inc. acquired a new stake in shares of SYSCO in the 2nd quarter valued at $29,000. Usca Ria LLC acquired a new stake in shares of SYSCO in the 3rd quarter valued at $35,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of SYSCO in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

A number of brokerages have weighed in on SYY. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Credit Suisse Group raised their price objective on SYSCO from $79.00 to $89.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Consumer Edge assumed coverage on SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. JPMorgan Chase & Co. raised their price objective on SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets raised their price objective on SYSCO to $88.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. SYSCO has an average rating of “Hold” and an average target price of $77.40.

In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of SYSCO stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total transaction of $733,500.00. Following the transaction, the director now directly owns 52,872 shares of the company’s stock, valued at approximately $3,878,161.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Cassaday sold 20,203 shares of SYSCO stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $77.23, for a total value of $1,560,277.69. Following the transaction, the director now directly owns 52,785 shares in the company, valued at $4,076,585.55. The disclosure for this sale can be found here. Insiders have sold a total of 182,277 shares of company stock worth $14,357,991 over the last ninety days. Company insiders own 5.24% of the company’s stock.

NYSE SYY opened at $80.40 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 3.74. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $81.60. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.24 and a beta of 0.48. The business’s fifty day moving average is $79.14 and its 200 day moving average is $74.07.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.01. The company had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. SYSCO’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, research analysts anticipate that SYSCO Co. will post 3.83 earnings per share for the current fiscal year.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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