Sysco Co. (NYSE:SYY) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,150 shares of the company’s stock after purchasing an additional 6,981 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sysco were worth $6,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC lifted its position in Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after purchasing an additional 24,650 shares during the period. Professional Advisory Services Inc. acquired a new position in Sysco during the fourth quarter valued at $20,057,000. Pacer Advisors Inc. increased its holdings in Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares in the last quarter. Sherbrooke Park Advisers LLC increased its holdings in Sysco by 161.7% in the third quarter. Sherbrooke Park Advisers LLC now owns 18,238 shares of the company’s stock valued at $1,205,000 after buying an additional 11,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Sysco by 57,939.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 26,698 shares of the company’s stock valued at $1,952,000 after buying an additional 26,652 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 1.7 %

Shares of NYSE SYY opened at $75.25 on Monday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a market cap of $37.46 billion, a PE ratio of 18.40, a P/E/G ratio of 1.53 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a 50-day moving average of $79.80 and a 200 day moving average of $74.09.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Sysco’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.66%. Sysco’s dividend payout ratio is presently 48.90%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYY. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Stephens boosted their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Sysco Company Profile

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.