Candriam S.C.A. Sells 109,138 Shares of Sysco Corporation $SYY

Candriam S.C.A. lessened its holdings in Sysco Corporation (NYSE:SYY) by 38.6% in the second quarter, HoldingsChannel reports. The fund owned 173,681 shares of the company’s stock after selling 109,138 shares during the period. Candriam S.C.A.’s holdings in Sysco were worth $13,155,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after purchasing an additional 1,622 shares in the last quarter. Gradient Investments LLC raised its stake in Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after purchasing an additional 15,906 shares in the last quarter. Brighton Jones LLC lifted its position in Sysco by 4.3% during the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after purchasing an additional 3,760 shares during the period. Beacon Financial Group grew its stake in Sysco by 55.5% during the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock worth $754,000 after buying an additional 3,554 shares in the last quarter. Finally, Salvus Wealth Management LLC bought a new position in Sysco in the 2nd quarter valued at about $329,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SYY shares. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Guggenheim boosted their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, November 7th. Truist Financial lifted 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. Finally, UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the sale, the executive vice president directly owned 41,837 shares in the company, valued at $3,388,797. This trade represents a 14.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.

Sysco Stock Down 0.5%

Shares of SYY opened at $75.03 on Friday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.70 and a current ratio of 1.15. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The stock has a market capitalization of $35.93 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.19 and a beta of 0.79. The stock has a fifty day moving average of $78.96 and a 200-day moving average of $77.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $21.15 billion for the quarter, compared to analyst estimates of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. Sysco’s dividend payout ratio is currently 57.91%.

Sysco Profile

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.