Parnassus Investments LLC Increases Stock Holdings in Sysco Corporation $SYY

Parnassus Investments LLC increased its stake in Sysco Corporation (NYSE:SYY) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,595,466 shares of the company’s stock after acquiring an additional 31,263 shares during the quarter. Parnassus Investments LLC’s holdings in Sysco were worth $131,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SYY. Harbor Capital Advisors Inc. lifted its holdings in Sysco by 75.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in Sysco during the second quarter worth about $30,000. Darwin Wealth Management LLC purchased a new position in Sysco in the 2nd quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Sysco by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Sysco by 234.3% in the second quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYY. Barclays raised their target price on Sysco from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler lowered their price objective on Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Guggenheim increased their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Sanford C. Bernstein assumed coverage on shares of Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price objective on the stock. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Sysco Trading Down 0.0%

NYSE:SYY opened at $74.27 on Friday. The stock has a fifty day moving average price of $74.41 and a 200 day moving average price of $77.66. The company has a current ratio of 1.15, a quick ratio of 0.65 and a debt-to-equity ratio of 5.54. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The firm has a market cap of $35.56 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61.

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

Sysco Dividend Announcement

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 given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s payout ratio is 57.91%.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.