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

Constitution Capital LLC lessened its stake in Sysco Co. (NYSE:SYY) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,700 shares of the company’s stock after selling 670 shares during the period. Sysco accounts for approximately 1.2% of Constitution Capital LLC’s investment portfolio, making the stock its 16th largest holding. Constitution Capital LLC’s holdings in Sysco were worth $2,055,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its stake in shares of Sysco by 166.0% during the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock worth $1,338,000 after acquiring an additional 10,065 shares during the last quarter. Sei Investments Co. grew its stake in shares of Sysco by 6.9% during the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock worth $21,068,000 after acquiring an additional 16,772 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Sysco by 12.9% during the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock worth $1,808,000 after acquiring an additional 2,522 shares during the last quarter. Baird Financial Group Inc. boosted its position in Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock valued at $53,865,000 after buying an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Sysco by 54.8% in the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock valued at $68,000 after buying an additional 295 shares during the last quarter. 80.60% of the stock is currently owned by institutional investors.

Sysco Price Performance

NYSE SYY traded down $0.13 during mid-day trading on Tuesday, hitting $70.69. The stock had a trading volume of 370,214 shares, compared to its average volume of 2,415,017. The firm’s 50 day moving average is $72.32 and its 200 day moving average is $73.58. Sysco Co. has a twelve month low of $68.18 and a twelve month high of $87.41. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.24 and a quick ratio of 0.72. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.33 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. Sysco had a return on equity of 133.27% and a net margin of 2.32%. The firm had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $19.95 billion. During the same period in the prior year, the company earned $1.15 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.29 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco’s payout ratio is currently 57.64%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYY. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 target price on shares of Sysco in a research report on Wednesday, August 2nd. Truist Financial dropped their target price on Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Stephens reiterated an “overweight” rating and issued a $90.00 target price on shares of Sysco in a research report on Tuesday, August 1st. Barclays boosted their price target on Sysco from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Sysco in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $86.91.

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.