Candriam S.C.A. Purchases 175,390 Shares of Sysco Co. (NYSE:SYY)

Candriam S.C.A. raised its position in Sysco Co. (NYSE:SYY) by 320.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,133 shares of the company’s stock after buying an additional 175,390 shares during the quarter. Candriam S.C.A.’s holdings in Sysco were worth $17,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYY. Raymond James Financial Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at approximately $97,078,000. Vision Financial Markets LLC bought a new position in Sysco in the 4th quarter worth about $258,000. Verdence Capital Advisors LLC lifted its holdings in shares of Sysco by 116.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 25,615 shares of the company’s stock worth $1,958,000 after buying an additional 13,779 shares in the last quarter. Sound Financial Strategies Group LLC boosted its position in shares of Sysco by 16.8% in the fourth quarter. Sound Financial Strategies Group LLC now owns 11,112 shares of the company’s stock valued at $850,000 after acquiring an additional 1,595 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Sysco during the fourth quarter valued at approximately $8,813,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYY shares. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

Sysco stock opened at $75.04 on Friday. The firm has a fifty day simple moving average of $73.47 and a two-hundred day simple moving average of $75.62. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a market capitalization of $36.71 billion, a PE ratio of 19.29, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm posted $0.89 earnings per share. Research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Sysco Company 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.