Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 1,217,827 Sysco Corporation $SYY

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sysco Corporation (NYSE:SYY) in the second quarter, HoldingsChannel.com reports. The fund purchased 1,217,827 shares of the company’s stock, valued at approximately $101,786,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lloyd Advisory Services LLC. purchased a new stake in Sysco during the 4th quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Sysco in the 4th quarter valued at about $25,000. Sunbelt Securities Inc. boosted its stake in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 170 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $27,000. Finally, Bard Associates Inc. purchased a new stake in shares of Sysco during the fourth quarter worth about $27,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 0.3%

Shares of SYY opened at $82.07 on Wednesday. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market capitalization of $39.29 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock’s fifty day simple moving average is $82.40 and its 200 day simple moving average is $80.63.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities research analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SYY shares. UBS Group boosted their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Tuesday, April 28th. Piper Sandler raised their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.50.

Insider Activity

In related news, EVP Ronald L. Phillips sold 6,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the transaction, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.56% of the company’s stock.

Sysco 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.