McElhenny Sheffield Capital Management LLC Sells 336 Shares of Sysco Co. (NYSE:SYY)

McElhenny Sheffield Capital Management LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,884 shares of the company’s stock after selling 336 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Sysco were worth $491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Trust & Investment Management Co bought a new stake in Sysco during the 4th quarter valued at approximately $4,623,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the period. Bridgefront Capital LLC bought a new stake in Sysco during the 4th quarter valued at approximately $841,000. Nebula Research & Development LLC bought a new stake in Sysco during the 4th quarter valued at approximately $916,000. Finally, Artisan Partners Limited Partnership raised its stake in Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.4 %

Shares of SYY stock traded up $0.30 on Thursday, reaching $75.55. 2,672,309 shares of the company’s stock were exchanged, compared to its average volume of 3,146,385. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.77 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $37.62 billion, a PE ratio of 18.43, a P/E/G ratio of 2.07 and a beta of 1.18. The company’s fifty day simple moving average is $72.71 and its 200 day simple moving average is $76.09.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period last year, the company earned $1.34 EPS. Sysco’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Sysco Co. will post 4.59 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SYY. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. UBS Group cut their price target on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft cut their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.27.

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.