Candriam S.C.A. Acquires 52,686 Shares of Sysco Corporation $SYY

Key Points

• Candriam S.C.A. increased its stake in Sysco Corporation by 22.9% in Q1, owning 282,819 shares valued at approximately $21.2 million.
• Equities research analysts have a generally positive outlook on Sysco, with an average price target of $85.69 and multiple upgrades from firms like Bank of America and Morgan Stanley.
• Sysco declared a quarterly dividend of $0.54 per share, which will be paid on October 24th, representing an annualized yield of 2.7%.

Candriam S.C.A. raised its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,819 shares of the company's stock after buying an additional 52,686 shares during the quarter. Candriam S.C.A. owned about 0.06% of Sysco worth $21,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. Rialto Wealth Management LLC increased its position in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $29,000. Golden State Wealth Management LLC increased its position in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the first quarter valued at approximately $33,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $34,000. 83.41% of the stock is currently owned by institutional investors.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock worth $6,766,059 in the last three months. 0.54% of the stock is owned by insiders.

Sysco Trading Down 1.4%

Sysco stock traded down $1.0920 during mid-day trading on Monday, hitting $79.1980. The stock had a trading volume of 1,171,077 shares, compared to its average volume of 3,305,930. The stock has a 50-day simple moving average of $78.14 and a two-hundred day simple moving average of $74.43. The stock has a market capitalization of $38.39 billion, a PE ratio of 21.21, a P/E/G ratio of 2.49 and a beta of 0.83. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.64. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter last year, the business earned $1.39 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SYY. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. boosted their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. BMO Capital Markets decreased their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Truist Financial boosted their price target on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

About Sysco

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.