Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sysco Corporation (NYSE:SYY – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 204,201 shares of the company’s stock, valued at approximately $15,920,000.
Several other institutional investors have also added to or reduced their stakes in SYY. Capital Investment Advisors LLC grew its holdings in Sysco by 1.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 9,727 shares of the company’s stock worth $758,000 after acquiring an additional 133 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Sysco by 1.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 11,356 shares of the company’s stock valued at $885,000 after acquiring an additional 144 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Sysco by 7.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,241 shares of the company’s stock valued at $187,000 after acquiring an additional 147 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Sysco by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company’s stock valued at $577,000 after acquiring an additional 150 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC raised its stake in shares of Sysco by 0.7% during the third quarter. Taylor Frigon Capital Management LLC now owns 20,679 shares of the company’s stock valued at $1,612,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Insider Buying and Selling
In other news, EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president owned 38,650 shares in the company, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,525 shares of company stock worth $1,299,736 over the last ninety days. Company insiders own 0.55% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on SYY shares. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Sysco in a report on Wednesday, September 16th. Citigroup restated a “neutral” rating on shares of Sysco in a report on Monday, October 26th. Weiss Ratings upgraded Sysco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 15th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.42.
Sysco News Roundup
Here are the key news stories impacting Sysco this week:
- Positive Sentiment: Local case volume grew 2.7% in the first quarter, and Sysco reiterated its fiscal 2027 adjusted EPS growth outlook of 9%–11%. The company also expects its AI transformation efforts to generate $100 million in savings in fiscal 2027. Sysco: 3 Key Takeaways for Long-Term Investors
- Neutral Sentiment: Sysco reported adjusted first-quarter EPS of $1.19, in line with the company’s cited consensus estimate and ahead of the $1.17 estimate reported by Zacks. It also named interim CFO Brandon Sewell as permanent CFO, providing continuity in the finance leadership role. Sysco Q1 Earnings: Sales Miss Estimates, Full-Year EPS Outlook Unchanged
- Negative Sentiment: Revenue of $21.74 billion was below the $22.02 billion analyst estimate, despite increasing 2.8% year over year. The company said a cyclosporiasis outbreak affected first-quarter sales, while costs related to the Jetro acquisition and concerns around sales guidance added pressure. The revenue miss appears to have outweighed the EPS result and reaffirmed full-year earnings outlook. Food distributor Sysco says cyclosporiasis outbreak hit Q1 sales Sysco under pressure on Jetro acquisition costs, FY sales guidance
Sysco Trading Down 9.3%
SYY opened at $74.12 on Wednesday. The stock has a market cap of $36.46 billion, a PE ratio of 20.25, a PEG ratio of 2.30 and a beta of 0.66. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The business has a 50 day moving average of $80.30 and a 200-day moving average of $80.52. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.
Sysco (NYSE:SYY – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. Equities research analysts predict that Sysco Corporation will post 5.09 earnings per share for the current fiscal year.
Sysco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 3.0%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.
Sysco Profile
Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.
The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.
Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.
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