Elgethun Capital Management Has $265,000 Stake in Sysco Co. (NYSE:SYY)

Elgethun Capital Management reduced its stake in Sysco Co. (NYSE:SYY) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,712 shares of the company’s stock after selling 152 shares during the period. Elgethun Capital Management’s holdings in Sysco were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accretive Wealth Partners LLC increased its holdings in shares of Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after buying an additional 212 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Sysco by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after purchasing an additional 1,710 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Sysco by 1.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 70,820 shares of the company’s stock worth $5,179,000 after purchasing an additional 853 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Sysco by 13.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 24,808 shares of the company’s stock valued at $1,876,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Sysco by 8.1% in the 4th quarter. Advisory Services Network LLC now owns 25,692 shares of the company’s stock valued at $1,879,000 after buying an additional 1,915 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

NYSE SYY opened at $76.76 on Thursday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a market cap of $38.23 billion, a P/E ratio of 18.72, a PEG ratio of 1.98 and a beta of 1.20. The company has a fifty day simple moving average of $76.03 and a 200 day simple moving average of $75.47. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its 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 company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. Sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal 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 issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.66%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Company Profile

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.