Nomura Asset Management Co. Ltd. boosted its holdings in Sysco Corporation (NYSE:SYY) by 16.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,800 shares of the company’s stock after buying an additional 32,594 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Sysco were worth $12,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec grew its stake in Sysco by 1.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 493,043 shares of the company’s stock valued at $26,712,000 after buying an additional 5,800 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of Sysco by 116.9% during the 3rd quarter. Engineers Gate Manager LP now owns 57,560 shares of the company’s stock valued at $3,105,000 after purchasing an additional 31,018 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Sysco by 3.7% during the 3rd quarter. Private Advisor Group LLC now owns 33,100 shares of the company’s stock valued at $1,786,000 after purchasing an additional 1,187 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in shares of Sysco by 1.2% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 106,336 shares of the company’s stock valued at $5,737,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Sysco by 6.8% during the 3rd quarter. Stifel Financial Corp now owns 1,167,751 shares of the company’s stock valued at $62,951,000 after purchasing an additional 74,275 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) traded down $0.25 during trading hours on Wednesday, reaching $59.28. 3,361,400 shares of the company traded hands, compared to its average volume of 2,892,166. Sysco Corporation has a one year low of $48.85 and a one year high of $59.66. The stock has a market capitalization of $31,018.48, a price-to-earnings ratio of 23.34, a PEG ratio of 2.66 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

Sysco (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. equities analysts predict that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.43%. Sysco’s payout ratio is 60.00%.

A number of research analysts have recently commented on the stock. Wells Fargo & Company restated a “buy” rating on shares of Sysco in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Sysco from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, October 10th. BMO Capital Markets restated an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Pivotal Research set a $53.00 price target on shares of Sysco and gave the company a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Sysco and gave the company a “hold” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco currently has an average rating of “Hold” and an average target price of $56.42.

In related news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.16, for a total value of $1,594,800.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at $21,621,501. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 372,314 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $53.09, for a total transaction of $19,766,150.26. Following the completion of the transaction, the director now owns 5,529 shares of the company’s stock, valued at $293,534.61. The disclosure for this sale can be found here. Insiders sold 2,237,981 shares of company stock valued at $120,454,412 over the last quarter. 9.60% of the stock is owned by company insiders.

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About Sysco

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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