Sysco Corporation $SYY Stock Holdings Raised by Eastern Bank

Eastern Bank lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 33.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,953 shares of the company’s stock after purchasing an additional 71,066 shares during the period. Eastern Bank’s holdings in Sysco were worth $23,216,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Sysco during the 2nd quarter worth approximately $493,686,000. Vanguard Group Inc. raised its position in shares of Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares in the last quarter. Marshall Wace LLP lifted its stake in Sysco by 207.6% during the second quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after purchasing an additional 785,995 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Sysco by 143.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after purchasing an additional 715,663 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Sysco by 163.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after purchasing an additional 440,700 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of NYSE SYY opened at $76.06 on Wednesday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company has a market cap of $36.42 billion, a PE ratio of 20.39, a P/E/G ratio of 2.45 and a beta of 0.61. The stock has a 50 day simple moving average of $74.50 and a 200-day simple moving average of $77.70. 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 (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company had revenue of $21.15 billion during the quarter, compared to analyst estimates of $21.03 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco’s dividend payout ratio (DPR) is presently 57.91%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYY shares. Piper Sandler reduced their price target on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Guggenheim lifted their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Sanford C. Bernstein initiated coverage on Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Morgan Stanley set a $88.00 price objective on Sysco in a research report on Tuesday, October 21st. Finally, Citigroup lowered their price objective on Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Sysco Profile

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.