Sysco Co. (NYSE:SYY) Shares Sold by McElhenny Sheffield Capital Management LLC

by · The Markets Daily

McElhenny Sheffield Capital Management LLC lowered its stake in shares of Sysco Co. (NYSE:SYY – Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,622 shares of the company’s stock after selling 262 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Sysco were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Sysco in the first quarter valued at approximately $31,000. Fairscale Capital LLC purchased a new position in Sysco in the second quarter worth approximately $38,000. Finally, LRI Investments LLC acquired a new position in Sysco during the 1st quarter worth approximately $45,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

SYY stock opened at $75.54 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $37.11 billion, a P/E ratio of 19.42, a PEG ratio of 1.97 and a beta of 1.20. The business has a 50 day simple moving average of $76.55 and a 200-day simple moving average of $74.85. Sysco Co. has a twelve month low of $64.28 and a twelve month high of $82.89.

Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYY. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $86.08.

View Our Latest Analysis on SYY

Sysco Company Profile

(Free Report)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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