Bailard Inc. Decreases Position in Sysco Co. (NYSE:SYY)

Bailard Inc. lessened its holdings in Sysco Co. (NYSE:SYYGet Rating) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,377 shares of the company’s stock after selling 525 shares during the period. Bailard Inc.’s holdings in Sysco were worth $8,827,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYY. EverSource Wealth Advisors LLC purchased a new position in Sysco in the 4th quarter valued at approximately $25,000. Allegheny Financial Group LTD purchased a new position in Sysco in the 4th quarter valued at approximately $31,000. Bell Investment Advisors Inc purchased a new position in Sysco in the 3rd quarter valued at approximately $36,000. Atticus Wealth Management LLC purchased a new position in Sysco in the 4th quarter valued at approximately $39,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco during the 4th quarter worth $58,000. 80.64% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Argus raised shares of Sysco from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, February 22nd. Credit Suisse Group lifted their price objective on shares of Sysco from $97.00 to $107.00 in a research report on Wednesday. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 8th. Finally, Truist Financial initiated coverage on shares of Sysco in a research report on Tuesday, February 1st. They set a “buy” rating and a $89.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $92.89.

NYSE SYY traded up $2.12 during trading on Friday, reaching $84.73. The company’s stock had a trading volume of 2,017,088 shares, compared to its average volume of 2,583,133. The company has a debt-to-equity ratio of 8.03, a quick ratio of 0.78 and a current ratio of 1.24. The firm has a market cap of $43.44 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 2.38 and a beta of 1.14. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53. The business’s fifty day moving average price is $83.48 and its 200-day moving average price is $80.05.

Sysco (NYSE:SYYGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $15.99 billion. Sysco had a net margin of 1.52% and a return on equity of 100.62%. Sysco’s quarterly revenue was up 42.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 3.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 1st will be paid a $0.49 dividend. The ex-dividend date is Thursday, June 30th. This is a positive change from Sysco’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.31%. Sysco’s payout ratio is currently 96.91%.

In other news, EVP Greg D. Bertrand sold 50,000 shares of Sysco stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $90.00, for a total value of $4,500,000.00. Following the sale, the executive vice president now owns 32,324 shares of the company’s stock, valued at $2,909,160. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 75,526 shares of Sysco stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.43, for a total transaction of $6,452,186.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,427 shares of company stock worth $19,220,747. 0.31% of the stock is currently owned by company insiders.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

Recommended Stories

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.