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

McElhenny Sheffield Capital Management LLC reduced its position in Sysco Co. (NYSE:SYY) by 3.8% during the 3rd quarter, according to its most recent filing with the SEC. 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 SEC.

A number of other large investors also recently bought and sold shares of the company. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares during the period. Mizuho Markets Americas LLC lifted its holdings in shares of Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after buying an additional 70,660 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after buying an additional 18,296 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Sysco in the first quarter valued at approximately $1,677,000. Finally, Shell Asset Management Co. grew its holdings in Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after acquiring an additional 9,615 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.54 on Monday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The business’s fifty day moving average price is $76.55 and its two-hundred day moving average price is $74.85. The stock has a market cap of $37.11 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter last year, the company earned $1.34 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is presently 52.44%.

About Sysco

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.