SYSCO Co. (SYY) is Godshalk Welsh Capital Management Inc.’s 7th Largest Position

Godshalk Welsh Capital Management Inc. lowered its stake in SYSCO Co. (NYSE:SYY) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,455 shares of the company’s stock after selling 965 shares during the period. SYSCO accounts for about 2.0% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 7th biggest holding. Godshalk Welsh Capital Management Inc.’s holdings in SYSCO were worth $2,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of SYSCO by 64.6% in the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock worth $1,206,188,000 after purchasing an additional 6,929,805 shares in the last quarter. Morgan Stanley lifted its position in shares of SYSCO by 83.0% in the second quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock worth $266,109,000 after purchasing an additional 1,767,298 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of SYSCO by 56.5% in the third quarter. Alliancebernstein L.P. now owns 1,319,642 shares of the company’s stock worth $96,664,000 after purchasing an additional 476,555 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of SYSCO by 26.4% in the second quarter. California Public Employees Retirement System now owns 1,656,336 shares of the company’s stock worth $113,111,000 after purchasing an additional 346,174 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of SYSCO by 113.2% in the third quarter. Retirement Systems of Alabama now owns 479,823 shares of the company’s stock worth $35,147,000 after purchasing an additional 254,777 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. Credit Suisse Group cut their price objective on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Morgan Stanley cut their price objective on shares of SYSCO from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Tuesday, November 6th. Finally, Loop Capital boosted their price objective on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $73.54.

In other news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total value of $158,249,931.98. Following the completion of the sale, the director now owns 4,005 shares of the company’s stock, valued at $299,614.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joshua D. Frank sold 816,640 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $75.00, for a total transaction of $61,248,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,176,196 shares of company stock worth $443,878,713. Corporate insiders own 7.88% of the company’s stock.

Shares of SYY opened at $64.48 on Friday. The firm has a market cap of $33.52 billion, a P/E ratio of 20.54, a PEG ratio of 1.83 and a beta of 0.56. SYSCO Co. has a 1-year low of $54.55 and a 1-year high of $75.98. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.80 and a current ratio of 1.30.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The firm had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. SYSCO’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that SYSCO Co. will post 3.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be issued a $0.39 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, January 3rd. SYSCO’s payout ratio is currently 45.86%.

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SYSCO Company Profile

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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

Further Reading: Capital gains and your 401(k) or IRA

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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