Sysco Corporation $SYY Stock Holdings Reduced by Canoe Financial LP

Canoe Financial LP cut its position in shares of Sysco Corporation (NYSE:SYY) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,181 shares of the company’s stock after selling 50,167 shares during the period. Sysco accounts for about 1.7% of Canoe Financial LP’s investment portfolio, making the stock its 29th largest position. Canoe Financial LP owned approximately 0.30% of Sysco worth $117,514,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYY. BSW Wealth Partners lifted its stake in Sysco by 6.8% in the third quarter. BSW Wealth Partners now owns 6,887 shares of the company’s stock valued at $567,000 after acquiring an additional 438 shares during the last quarter. Bar Harbor Wealth Management increased its stake in shares of Sysco by 0.4% during the 3rd quarter. Bar Harbor Wealth Management now owns 125,553 shares of the company’s stock worth $10,338,000 after purchasing an additional 447 shares during the last quarter. Enterprise Financial Services Corp bought a new position in shares of Sysco during the 3rd quarter valued at $212,000. Harbor Capital Advisors Inc. lifted its stake in shares of 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 during the last quarter. Finally, Brookstone Capital Management boosted its holdings in Sysco by 1.3% in the third quarter. Brookstone Capital Management now owns 18,624 shares of the company’s stock worth $1,533,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup reduced their price target on Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Piper Sandler reduced their target price on Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Barclays increased their price target on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Morgan Stanley set a $88.00 price objective on shares of Sysco in a research note on Tuesday, October 21st. Finally, Guggenheim raised their target price on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.92.

Sysco Trading Up 0.6%

Shares of Sysco stock opened at $74.45 on Friday. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47. The company’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $77.76. The company has a market cap of $35.65 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.44 and a beta of 0.61. 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 issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The firm had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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 paid 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 payout ratio is currently 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.