Ellenbecker Investment Group grew its stake in shares of Sysco Co. (NYSE:SYY) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the company’s stock after acquiring an additional 300 shares during the period. Sysco accounts for 0.5% of Ellenbecker Investment Group’s holdings, making the stock its 24th largest position. Ellenbecker Investment Group’s holdings in Sysco were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summitry LLC raised its position in shares of Sysco by 1.0% in the fourth quarter. Summitry LLC now owns 50,243 shares of the company’s stock valued at $3,731,000 after buying an additional 512 shares in the last quarter. Nicholas Company Inc. raised its position in shares of Sysco by 49.0% in the fourth quarter. Nicholas Company Inc. now owns 93,500 shares of the company’s stock valued at $6,943,000 after buying an additional 30,745 shares in the last quarter. Allen Investment Management LLC raised its position in shares of Sysco by 12.1% in the fourth quarter. Allen Investment Management LLC now owns 2,505,105 shares of the company’s stock valued at $186,029,000 after buying an additional 270,101 shares in the last quarter. Meyer Handelman Co. raised its position in shares of Sysco by 1.9% in the fourth quarter. Meyer Handelman Co. now owns 574,368 shares of the company’s stock valued at $42,653,000 after buying an additional 10,650 shares in the last quarter. Finally, Waycross Partners LLC bought a new position in Sysco in the fourth quarter valued at approximately $2,693,000. Institutional investors own 81.02% of the company’s stock.
SYY has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, March 18th. Morgan Stanley lifted their price objective on shares of Sysco from $69.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 19th. Zacks Investment Research cut shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective on the stock. in a research note on Wednesday, February 3rd. Wells Fargo & Company lifted their price objective on shares of Sysco from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, January 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, March 15th. 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. The company presently has a consensus rating of “Hold” and an average price target of $78.44.
Sysco (NYSE:SYY) last posted its earnings results on Monday, February 1st. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). The company had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $12.30 billion. Sysco had a positive return on equity of 39.64% and a negative net margin of 0.04%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Sysco Co. will post 1.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 23rd. Stockholders of record on Thursday, April 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, March 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.25%. Sysco’s dividend payout ratio (DPR) is presently 89.55%.
Sysco Company Profile
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.
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