Sysco Co. (NYSE:SYY) Position Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,994 shares of the company's stock after purchasing an additional 10,910 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Sysco were worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. State Street Corp raised its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $137,900,000. Nordea Investment Management AB raised its position in shares of Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock worth $208,666,000 after purchasing an additional 933,327 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock worth $521,874,000 after purchasing an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $44,722,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of recent analyst reports. Melius Research raised Sysco to a "hold" rating in a report on Wednesday, December 18th. Barclays decreased their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.38.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company's stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock valued at $6,181,946 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of SYY traded down $0.38 during trading hours on Wednesday, hitting $70.16. 2,549,868 shares of the company were exchanged, compared to its average volume of 3,538,545. The company has a market capitalization of $34.32 billion, a PE ratio of 18.04, a PEG ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a fifty day simple moving average of $75.47 and a 200-day simple moving average of $75.93. Sysco Co. has a one year low of $69.03 and a one year high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, January 3rd. Sysco's dividend payout ratio is presently 52.44%.

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.