Candriam S.C.A. boosted its holdings in shares of Sysco Corporation (NYSE:SYY – Free Report) by 181.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SYY. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Sysco by 3.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 211,700 shares of the company’s stock valued at $16,504,000 after purchasing an additional 7,584 shares in the last quarter. Leelyn Smith LLC grew its position in shares of Sysco by 1.8% in the third quarter. Leelyn Smith LLC now owns 39,133 shares of the company’s stock valued at $3,051,000 after purchasing an additional 685 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Sysco by 10.6% during the 3rd quarter. Parallel Advisors LLC now owns 5,613 shares of the company’s stock worth $438,000 after purchasing an additional 538 shares in the last quarter. Eliot Finkel Investment Counsel LLC purchased a new position in shares of Sysco during the 3rd quarter worth approximately $2,903,000. Finally, Plancorp LLC increased its stake in shares of Sysco by 6.9% during the 3rd quarter. Plancorp LLC now owns 3,089 shares of the company’s stock worth $256,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on SYY. Bank of America lifted 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. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings downgraded Sysco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Morgan Stanley raised their price target on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Finally, BMO Capital Markets boosted their price target on Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.13.
View Our Latest Stock Analysis on SYY
Sysco News Summary
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
Insider Activity at Sysco
In other Sysco news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the sale, the executive vice president directly owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 purchased 2,500 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was acquired at an average price of $76.62 per share, with a total value of $191,550.00. Following the completion of the acquisition, the director directly owned 2,500 shares in the company, valued at $191,550. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 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 owned by corporate insiders.
Sysco Price Performance
Sysco stock opened at $76.85 on Monday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The stock has a market capitalization of $37.83 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.89 and a beta of 0.66. The firm’s 50-day moving average is $79.89 and its two-hundred day moving average is $80.50. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.46 and a quick ratio of 0.95.
Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. Equities analysts predict that Sysco Corporation will post 5.06 earnings per share for the current year.
Sysco Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio (DPR) is 58.51%.
Sysco Company 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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