Parnassus Investments LLC Raises Holdings in Sysco Corporation $SYY

Parnassus Investments LLC lifted its position in Sysco Corporation (NYSE:SYY) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 owned 0.33% of Sysco worth $131,371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Salvus Wealth Management LLC purchased a new position in Sysco in the second quarter valued at about $329,000. Gateway Investment Advisers LLC grew its position in shares of Sysco by 594.8% in the 3rd quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock worth $7,050,000 after buying an additional 73,298 shares during the last quarter. Norges Bank bought a new position in shares of Sysco during the 2nd quarter worth approximately $493,686,000. Accurate Wealth Management LLC acquired a new stake in Sysco in the third quarter valued at approximately $2,497,000. Finally, Brighton Jones LLC grew its holdings in Sysco by 4.3% in the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after purchasing an additional 3,760 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several research analyst reports. Guggenheim boosted their target price on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Morgan Stanley set a $88.00 price objective on shares of Sysco in a research report on Tuesday, October 21st. Citigroup dropped their target price on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Sysco Price Performance

Shares of SYY opened at $74.27 on Friday. The business’s 50-day moving average is $74.41 and its two-hundred day moving average is $77.66. The company has a market capitalization of $35.56 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.44 and a beta of 0.61. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The firm had revenue of $21.15 billion for the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors 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 yield of 2.9%. The ex-dividend date is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Sysco Company 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.