Candriam S.C.A. Has $3.72 Million Holdings in Sysco Co. (NYSE:SYY)

Candriam S.C.A. raised its position in Sysco Co. (NYSE:SYY) by 10.1% during the second quarter, Holdings Channel reports. The firm owned 52,093 shares of the company’s stock after purchasing an additional 4,759 shares during the period. Candriam S.C.A.’s holdings in Sysco were worth $3,719,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. North Star Asset Management Inc. boosted its position in Sysco by 0.5% during the second quarter. North Star Asset Management Inc. now owns 142,157 shares of the company’s stock valued at $10,149,000 after acquiring an additional 674 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Sysco by 6.3% during the 2nd quarter. Private Advisor Group LLC now owns 37,895 shares of the company’s stock valued at $2,705,000 after purchasing an additional 2,232 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in Sysco by 4.5% during the second quarter. Arcadia Investment Management Corp MI now owns 18,822 shares of the company’s stock worth $1,344,000 after purchasing an additional 805 shares during the period. Victory Capital Management Inc. increased its holdings in Sysco by 1.6% in the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company’s stock worth $32,196,000 after purchasing an additional 6,998 shares in the last quarter. Finally, VELA Investment Management LLC lifted its stake in Sysco by 2.0% in the second quarter. VELA Investment Management LLC now owns 64,721 shares of the company’s stock valued at $4,620,000 after buying an additional 1,286 shares during the period. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYY. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Bank of America decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Stock Performance

Shares of SYY opened at $78.41 on Tuesday. The stock has a 50 day moving average of $74.78 and a 200 day moving average of $75.77. The company has a market capitalization of $38.54 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.05 and a beta of 1.20. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. As a group, sell-side analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.60%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.