Candriam S.C.A. Has $13.37 Million Position in Sysco Corporation $SYY

Candriam S.C.A. trimmed its position in Sysco Corporation (NYSE:SYY - Free Report) by 60.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,491 shares of the company's stock after selling 285,893 shares during the quarter. Candriam S.C.A.'s holdings in Sysco were worth $13,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after purchasing an additional 814,270 shares in the last quarter. State Street Corp increased its holdings in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Geode Capital Management LLC raised its position in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock valued at $934,391,000 after buying an additional 131,659 shares in the last quarter. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $542,780,000. Finally, Morgan Stanley boosted its stake in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock valued at $446,444,000 after buying an additional 500,881 shares during the period. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. Sanford C. Bernstein reduced their price target on Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 29th. Guggenheim dropped their price target on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Barclays cut their price objective on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Citigroup increased their price objective on shares of Sysco from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Finally, Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $88.15.

Sysco Stock Down 0.0%

SYY stock opened at $83.79 on Monday. The firm has a 50-day moving average price of $77.74 and a 200-day moving average price of $79.21. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The stock has a market capitalization of $40.07 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the previous year, the company earned $0.96 EPS. Sysco's revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. This is an increase from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is presently 60.94%.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

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.

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