Mackenzie Financial Corp Raises Stake in Sysco Corporation $SYY

Mackenzie Financial Corp increased its holdings in shares of Sysco Corporation (NYSE:SYY) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430,611 shares of the company’s stock after acquiring an additional 46,032 shares during the period. Mackenzie Financial Corp owned approximately 0.30% of Sysco worth $117,797,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC grew its holdings in shares of Sysco by 594.8% during the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock valued at $7,050,000 after buying an additional 73,298 shares during the last quarter. Norges Bank bought a new stake in shares of Sysco during the second quarter valued at approximately $493,686,000. AE Wealth Management LLC raised its holdings in Sysco by 320.9% in the 3rd quarter. AE Wealth Management LLC now owns 79,589 shares of the company’s stock worth $6,553,000 after acquiring an additional 60,680 shares during the last quarter. Krilogy Financial LLC lifted its position in Sysco by 65.6% in the 3rd quarter. Krilogy Financial LLC now owns 42,435 shares of the company’s stock valued at $3,494,000 after acquiring an additional 16,807 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new position in Sysco in the 3rd quarter valued at approximately $2,497,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup lifted their target price on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. Morgan Stanley reduced their price objective on Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays upped their target price on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

Insider Activity

In other news, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares in the company, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is owned by corporate insiders.

Sysco Price Performance

NYSE SYY opened at $84.50 on Thursday. The stock has a market capitalization of $40.47 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.62 and a beta of 0.58. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. The business’s fifty day moving average price is $82.97 and its 200-day moving average price is $79.44.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.Sysco’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, April 2nd. Sysco’s payout ratio is currently 58.06%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.