Eastern Bank lifted its stake in shares of Sysco Corporation (NYSE:SYY – Free Report) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,414 shares of the company’s stock after purchasing an additional 35,060 shares during the quarter. Eastern Bank’s holdings in Sysco were worth $31,377,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new stake in Sysco in the 4th quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in Sysco during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. raised its position in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the period. Torren Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $27,000. Finally, Bard Associates Inc. acquired a new position in Sysco in the 4th quarter valued at approximately $27,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Sysco Price Performance
Shares of SYY stock opened at $84.83 on Tuesday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The firm’s 50 day moving average price is $80.63 and its two-hundred day moving average price is $80.24. The stock has a market cap of $40.61 billion, a PE ratio of 23.50, a PEG ratio of 3.36 and a beta of 0.64.
Insider Activity
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Citigroup reissued a “neutral” rating on shares of Sysco in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.00.
Check Out Our Latest Research Report on Sysco
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.
Read More
- Five stocks we like better than Sysco
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY – Free Report).
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.
