Bryn Mawr Capital Management LLC Reduces Stock Position in Sysco Co. (NYSE:SYY)

Bryn Mawr Capital Management LLC lowered its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,126 shares of the company’s stock after selling 313 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Sysco were worth $2,380,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Parnassus Investments LLC increased its stake in Sysco by 144.3% in the fourth quarter. Parnassus Investments LLC now owns 13,076,228 shares of the company’s stock valued at $999,678,000 after acquiring an additional 7,723,075 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Sysco during the third quarter valued at about $86,016,000. Renaissance Technologies LLC raised its position in Sysco by 660.7% during the third quarter. Renaissance Technologies LLC now owns 1,374,500 shares of the company’s stock valued at $97,191,000 after purchasing an additional 1,193,800 shares in the last quarter. Vanguard Group Inc. raised its position in Sysco by 1.5% during the third quarter. Vanguard Group Inc. now owns 47,155,616 shares of the company’s stock valued at $3,334,373,000 after purchasing an additional 709,072 shares in the last quarter. Finally, Raymond James & Associates raised its position in Sysco by 50.8% during the fourth quarter. Raymond James & Associates now owns 1,458,992 shares of the company’s stock valued at $111,540,000 after purchasing an additional 491,790 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several analyst reports. TheStreet upgraded Sysco from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Credit Suisse Group decreased their price objective on Sysco from $94.00 to $88.00 in a report on Wednesday, May 3rd. Argus downgraded Sysco from a “buy” rating to a “hold” rating in a report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Sysco from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, February 1st. Finally, Bank of America began coverage on Sysco in a report on Thursday, March 9th. They set a “buy” rating and a $90.00 price target on the stock. Three investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.27.

Sysco Stock Up 0.5 %

NYSE SYY traded up $0.38 during mid-day trading on Friday, reaching $70.89. The stock had a trading volume of 265,237 shares, compared to its average volume of 2,384,999. Sysco Co. has a 1 year low of $69.96 and a 1 year high of $88.84. The stock has a market cap of $35.92 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11. The company has a fifty day moving average price of $75.04 and a 200 day moving average price of $77.89. The company has a debt-to-equity ratio of 6.51, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $18.88 billion during the quarter, compared to analysts’ expectations of $18.56 billion. Sysco had a return on equity of 141.53% and a net margin of 2.05%. Sysco’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, research analysts expect that Sysco Co. will post 4 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, July 6th. This is a positive change from Sysco’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 2.82%. Sysco’s payout ratio is currently 64.90%.

Sysco Profile

(Get Rating)

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.