Shelton Capital Management Has $231,000 Position in Sysco Co. (NYSE:SYY)
Shelton Capital Management reduced its holdings in Sysco Co. (NYSE:SYY) by 93.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,711 shares of the company’s stock after selling 53,699 shares during the period. Shelton Capital Management’s holdings in Sysco were worth $231,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Knuff & Co LLC acquired a new position in shares of Sysco during the 3rd quarter worth about $25,000. Berman Capital Advisors LLC increased its stake in shares of Sysco by 102.2% during the 3rd quarter. Berman Capital Advisors LLC now owns 544 shares of the company’s stock worth $33,000 after purchasing an additional 275 shares during the last quarter. Weaver Consulting Group increased its stake in shares of Sysco by 92.9% during the 3rd quarter. Weaver Consulting Group now owns 623 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Shine Investment Advisory Services Inc. increased its stake in shares of Sysco by 369.9% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 874 shares of the company’s stock worth $48,000 after purchasing an additional 688 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Sysco by 84.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 874 shares of the company’s stock worth $48,000 after purchasing an additional 399 shares during the last quarter. Institutional investors own 79.58% of the company’s stock.
Several research analysts have recently weighed in on SYY shares. Zacks Investment Research upgraded shares of Sysco from a “sell” rating to a “hold” rating and set a $75.00 price objective on the stock in a research note on Tuesday, November 10th. Wolfe Research initiated coverage on shares of Sysco in a research note on Wednesday, September 23rd. They set a “market perform” rating on the stock. BMO Capital Markets raised shares of Sysco from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $88.00 in a report on Tuesday, November 10th. Morgan Stanley lifted their target price on shares of Sysco from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price (up previously from $64.00) on shares of Sysco in a report on Wednesday, November 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $76.22.
Sysco (NYSE:SYY) last posted its quarterly earnings data on Sunday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.09. The firm had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $12.06 billion. Sysco had a net margin of 0.41% and a return on equity of 50.53%. The business’s revenue for the quarter was down 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities analysts expect that Sysco Co. will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, January 7th. Sysco’s dividend payout ratio is currently 89.55%.
In other news, Director Nancy Newcomb sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $60.38, for a total value of $603,800.00. Following the completion of the transaction, the director now directly owns 61,873 shares in the company, valued at approximately $3,735,891.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. sold 1,752,163 shares of the business’s stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $72.42, for a total transaction of $126,891,644.46. Insiders sold a total of 1,763,297 shares of company stock valued at $127,561,160 in the last three months. Insiders own 5.17% of the company’s stock.
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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