Eastern Bank Boosts Holdings in Sysco Corporation $SYY

Eastern Bank lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 33.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,953 shares of the company’s stock after acquiring an additional 71,066 shares during the period. Eastern Bank owned 0.06% of Sysco worth $23,216,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SYY. Intech Investment Management LLC grew its stake in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Sysco by 24.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,087 shares of the company’s stock valued at $307,000 after acquiring an additional 808 shares during the last quarter. Parallel Advisors LLC grew its position in Sysco by 8.1% during the second quarter. Parallel Advisors LLC now owns 4,940 shares of the company’s stock valued at $374,000 after acquiring an additional 371 shares during the period. Gradient Investments LLC increased its stake in Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after acquiring an additional 15,906 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its holdings in shares of Sysco by 3.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 12,684 shares of the company’s stock worth $961,000 after purchasing an additional 440 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYY shares. Guggenheim boosted their target price on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Citigroup dropped their price objective on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, January 7th. Barclays raised their target price on shares of Sysco from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Morgan Stanley set a $88.00 price objective on Sysco in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Sysco Stock Performance

Sysco stock opened at $76.06 on Wednesday. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.65. The firm’s fifty day moving average price is $74.50 and its 200 day moving average price is $77.70. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share 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 company had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same period last year, the firm earned $1.09 earnings per share. The company’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. On average, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Friday, January 2nd. Sysco’s dividend 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.