Sysco Co. (NYSE:SYY) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Sysco Co. (NYSE:SYY - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,524 shares of the company's stock after selling 6,425 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Sysco were worth $4,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Barclays PLC lifted its position in Sysco by 43.2% in the third quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after purchasing an additional 517,219 shares during the period. Park Avenue Securities LLC lifted its position in Sysco by 25.1% in the fourth quarter. Park Avenue Securities LLC now owns 10,807 shares of the company's stock valued at $826,000 after purchasing an additional 2,167 shares during the period. Merit Financial Group LLC lifted its position in Sysco by 29.6% in the fourth quarter. Merit Financial Group LLC now owns 32,084 shares of the company's stock valued at $2,453,000 after purchasing an additional 7,320 shares during the period. Brooklyn Investment Group lifted its position in Sysco by 12.3% in the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company's stock valued at $108,000 after purchasing an additional 154 shares during the period. Finally, HB Wealth Management LLC lifted its position in Sysco by 4.5% in the fourth quarter. HB Wealth Management LLC now owns 19,298 shares of the company's stock valued at $1,476,000 after purchasing an additional 824 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SYY. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Guggenheim reaffirmed a "buy" rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. UBS Group dropped their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.62.

Sysco Price Performance

Shares of SYY traded down $0.27 during mid-day trading on Thursday, reaching $71.96. 2,772,188 shares of the company's stock were exchanged, compared to its average volume of 3,351,157. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a 50-day simple moving average of $71.76 and a two-hundred day simple moving average of $74.00. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period last year, the business earned $0.96 earnings per share. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.