Mackenzie Financial Corp Buys 46,032 Shares of Sysco Corporation $SYY

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

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC raised its stake in shares of Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after buying an additional 7,742 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after acquiring an additional 2,000 shares during the period. AE Wealth Management LLC increased its holdings in Sysco by 3.9% in the 2nd quarter. AE Wealth Management LLC now owns 18,909 shares of the company’s stock worth $1,432,000 after acquiring an additional 718 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sysco in the 2nd quarter worth approximately $3,975,000. Finally, Midwest Trust Co bought a new stake in Sysco during the 2nd quarter worth approximately $714,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3%

Shares of SYY opened at $84.50 on Thursday. The firm has a market cap of $40.47 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 2.62 and a beta of 0.58. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $91.85. The company has a 50 day simple moving average of $82.97 and a two-hundred day simple moving average of $79.44.

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

Sysco Announces Dividend

The business 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 $0.54 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 annualized dividend and a yield of 2.6%. Sysco’s payout ratio is presently 58.06%.

Insider Activity

In other news, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the sale, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the sale, the executive vice president owned 35,965 shares in the company, valued at $2,913,165. This represents a 13.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYY shares. Piper Sandler lifted their price target on shares of Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Sanford C. Bernstein set a $90.00 price objective on shares of Sysco and gave the company a “market perform” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wells Fargo & Company increased their price target on Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Finally, Truist Financial raised their price target on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

About Sysco

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.