Constitution Capital LLC Decreases Stake in Sysco Co. (NYSE:SYY)

Constitution Capital LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,397 shares of the company’s stock after selling 3,895 shares during the quarter. Sysco comprises approximately 0.8% of Constitution Capital LLC’s portfolio, making the stock its 21st biggest holding. Constitution Capital LLC’s holdings in Sysco were worth $1,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the period. ProShare Advisors LLC boosted its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB acquired a new stake in Sysco in the first quarter valued at $178,824,000. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America dropped their price target on 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 Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Up 0.1 %

Shares of SYY traded up $0.06 during mid-day trading on Monday, reaching $74.48. 79,770 shares of the stock traded hands, compared to its average volume of 3,146,740. The stock has a fifty day simple moving average of $76.53 and a 200 day simple moving average of $75.03. The firm has a market cap of $36.59 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.92 and a beta of 1.20. Sysco Co. has a 12-month low of $63.18 and a 12-month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. Sell-side analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. Sysco’s dividend payout ratio (DPR) 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.