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

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sysco Co. (NYSE:SYY) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,084 shares of the company’s stock after purchasing an additional 7,302 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sysco were worth $4,278,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the last quarter. Fairscale Capital LLC acquired a new position in Sysco during the 2nd quarter worth approximately $38,000. LRI Investments LLC purchased a new stake in shares of Sysco in the 1st quarter valued at approximately $45,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Sysco in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $74.17 on Wednesday. The company has a market capitalization of $36.44 billion, a P/E ratio of 19.07, a PEG ratio of 1.93 and a beta of 1.20. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The business has a 50 day simple moving average of $76.34 and a 200-day simple moving average of $74.75. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYY. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco 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.