Sysco Corporation $SYY Shares Purchased by Parnassus Investments LLC

Parnassus Investments LLC lifted its position in Sysco Corporation (NYSE:SYY) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,611,005 shares of the company’s stock after acquiring an additional 15,539 shares during the quarter. Parnassus Investments LLC’s holdings in Sysco were worth $118,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. acquired a new position in Sysco during the third quarter worth $25,000. Lloyd Advisory Services LLC. acquired a new position in Sysco during the fourth quarter worth $25,000. Torren Management LLC acquired a new position in Sysco during the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new position in Sysco during the fourth quarter worth $28,000. Finally, Navalign LLC acquired a new position in Sysco during the fourth quarter worth $29,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE SYY opened at $79.67 on Friday. The firm has a 50-day simple moving average of $74.59 and a 200-day simple moving average of $78.17. The stock has a market capitalization of $38.10 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. Sysco’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, equities analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco’s dividend payout ratio (DPR) is currently 59.83%.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Barclays reduced their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

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.