Sysco Corporation $SYY Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Sysco stake by 181.5% in the third quarter, adding 146,864 shares to hold 227,780 shares valued at about $17.8 million.
• Sysco reported quarterly EPS of $1.19, matching estimates, while revenue of $21.74 billion came in below forecasts but rose 2.8% year over year.
• Analyst sentiment was broadly positive: 11 analysts rated the stock a Buy, six a Hold and one a Sell, with an average price target of $91.13.

Candriam S.C.A. boosted its stake in Sysco Corporation (NYSE:SYY - Free Report) by 181.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,780 shares of the company's stock after acquiring an additional 146,864 shares during the period. Candriam S.C.A.'s holdings in Sysco were worth $17,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. United Capital Financial Advisors LLC purchased a new stake in Sysco in the 2nd quarter valued at approximately $2,633,000. Rakuten Investment Management Inc. acquired a new position in Sysco during the 2nd quarter worth approximately $6,523,000. Empowered Funds LLC acquired a new position in Sysco during the 2nd quarter worth approximately $9,370,000. Bank of America Corp DE purchased a new position in shares of Sysco during the 2nd quarter worth approximately $482,589,000. Finally, First Nebraska Trust Co purchased a new position in shares of Sysco during the 2nd quarter worth approximately $183,604,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of several recent analyst reports. DA Davidson raised their price target on Sysco from $89.00 to $91.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Sanford C. Bernstein restated a "market perform" rating on shares of Sysco in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Sysco from $86.00 to $89.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Bank of America increased their price objective on Sysco from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $91.13.

Sysco Trading Down 0.0%

Shares of SYY opened at $76.85 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 3.18. The firm's 50-day moving average is $79.89 and its two-hundred day moving average is $80.50. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market capitalization of $37.83 billion, a P/E ratio of 20.44, a PEG ratio of 1.89 and a beta of 0.66.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.19. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The company had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $22.02 billion. During the same period last year, the company posted $1.15 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. On average, research analysts predict that Sysco Corporation will post 5.06 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were issued a $0.55 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. Sysco's dividend payout ratio is currently 58.51%.

Insider Activity at Sysco

In related news, EVP Ronald Phillips sold 7,350 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company's stock, valued at $3,231,526.50. This trade represents a 15.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of Sysco stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $76.62 per share, with a total value of $191,550.00. Following the completion of the acquisition, the director owned 2,500 shares of the company's stock, valued at $191,550. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 9,240 shares of company stock valued at $772,173 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Trending Headlines about Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

Sysco Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.

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