Mirae Asset Global Investments Co. Ltd. Buys 6,981 Shares of Sysco Co. (NYSE:SYY)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sysco Co. (NYSE:SYY) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,150 shares of the company’s stock after buying an additional 6,981 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sysco were worth $6,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthfront Advisers LLC grew its stake in shares of Sysco by 263.4% in the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock worth $2,246,000 after purchasing an additional 24,650 shares during the last quarter. Professional Advisory Services Inc. bought a new stake in Sysco during the 4th quarter valued at approximately $20,057,000. Pacer Advisors Inc. boosted its position in Sysco by 40.1% during the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after acquiring an additional 23,558 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its position in Sysco by 161.7% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 18,238 shares of the company’s stock valued at $1,205,000 after acquiring an additional 11,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Sysco by 57,939.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,698 shares of the company’s stock valued at $1,952,000 after acquiring an additional 26,652 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Sysco Price Performance

NYSE SYY opened at $75.25 on Monday. The business’s fifty day moving average price is $79.80 and its 200-day moving average price is $74.09. The stock has a market capitalization of $37.46 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.53 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. Sysco’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, equities analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.