Ellenbecker Investment Group Increases Stock Position in Sysco Co. (NYSE:SYY)

Ellenbecker Investment Group lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,000 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Sysco accounts for about 0.5% of Ellenbecker Investment Group’s investment portfolio, making the stock its 24th largest holding. Ellenbecker Investment Group’s holdings in Sysco were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Core Wealth Advisors Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at approximately $26,000. tru Independence LLC purchased a new stake in Sysco in the 4th quarter worth approximately $31,000. SOA Wealth Advisors LLC. purchased a new stake in Sysco in the 4th quarter worth approximately $31,000. RMR Wealth Builders purchased a new stake in Sysco in the 4th quarter worth approximately $34,000. Finally, Childress Capital Advisors LLC purchased a new stake in Sysco in the 4th quarter worth approximately $34,000. Institutional investors own 81.02% of the company’s stock.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Sysco from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, March 15th. Zacks Investment Research cut shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 target price on the stock. in a research note on Wednesday, February 3rd. Morgan Stanley increased their target price on shares of Sysco from $69.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 19th. Wells Fargo & Company increased their price target on shares of Sysco from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Finally, Piper Sandler increased their price target on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Sysco presently has a consensus rating of “Hold” and a consensus price target of $78.44.

Shares of SYY stock traded down $0.52 on Thursday, hitting $80.13. 16,509 shares of the company’s stock traded hands, compared to its average volume of 2,440,203. The company has a debt-to-equity ratio of 9.56, a quick ratio of 1.30 and a current ratio of 1.73. Sysco Co. has a one year low of $44.10 and a one year high of $83.97. The company’s fifty day simple moving average is $79.66 and its 200 day simple moving average is $72.68. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of -1,151.98, a P/E/G ratio of 3.79 and a beta of 1.38.

Sysco (NYSE:SYY) last released its earnings results on Monday, February 1st. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.17). Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $12.30 billion. During the same period in the prior year, the business posted $0.85 EPS. Sysco’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Sysco Co. will post 1.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 23rd. Investors of record on Thursday, April 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, March 31st. Sysco’s dividend payout ratio is currently 89.55%.

About Sysco

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

Read More: Market Timing – The Benefits and the Danger

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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.