Griffin Asset Management Inc. Has $2.25 Million Stock Position in Sysco Corporation $SYY

Griffin Asset Management Inc. lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 20.4% during the third quarter, HoldingsChannel reports. The firm owned 27,323 shares of the company’s stock after selling 7,000 shares during the quarter. Griffin Asset Management Inc.’s holdings in Sysco were worth $2,250,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYY. 1620 Investment Advisors Inc. raised its position in Sysco by 2.6% during the third quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock worth $404,000 after acquiring an additional 126 shares in the last quarter. Facet Wealth Inc. lifted its stake in Sysco by 1.2% in the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock valued at $849,000 after purchasing an additional 131 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in Sysco by 4.9% during the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after purchasing an additional 133 shares during the period. Harbor Capital Advisors Inc. increased its position in Sysco by 75.0% during the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in Sysco by 0.6% in the second quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock valued at $1,897,000 after buying an additional 140 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.1%

Shares of SYY opened at $74.21 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.65 and a debt-to-equity ratio of 5.54. The stock has a market capitalization of $35.53 billion, a PE ratio of 19.89, a P/E/G ratio of 2.44 and a beta of 0.61. The firm’s 50 day moving average is $75.11 and its 200-day moving average is $77.75. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.47.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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. The firm had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.9%. Sysco’s dividend payout ratio is currently 57.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SYY shares. Piper Sandler reduced their target price on Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research report on Monday. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Sanford C. Bernstein began coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Finally, Guggenheim boosted their price objective on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.92.

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.