Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Sysco Corporation $SYY

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Sysco Corporation by 7.1%, owning 80,517 shares worth approximately $6.1 million after buying an additional 5,359 shares.
• Sysco reported earnings per share (EPS) of $1.48 for the most recent quarter, surpassing analysts' expectations of $1.39, with revenues of $21.14 billion.
• The company has recently increased its quarterly dividend to $0.54 per share, representing an annualized yield of 2.6% with a payout ratio of 57.91%.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 80,517 shares of the company's stock after purchasing an additional 5,359 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Sysco were worth $6,098,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYY. Boston Partners raised its holdings in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Canoe Financial LP raised its stake in shares of Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after purchasing an additional 1,426,332 shares during the last quarter. Nuveen LLC purchased a new position in shares of Sysco in the first quarter worth $85,341,000. Amundi lifted its holdings in shares of Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after acquiring an additional 966,826 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Guggenheim upped their price objective on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Sysco Stock Down 1.3%

Shares of SYY stock opened at $82.21 on Monday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The company's fifty day moving average price is $80.86 and its 200-day moving average price is $76.15. The company has a market capitalization of $39.85 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.54 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's payout ratio is currently 57.91%.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 over the last 90 days. 0.54% of the stock is currently 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.

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