Sysco Co. (NYSE:SYY) Holdings Cut by Bailard Inc.

Bailard Inc. lowered its position in Sysco Co. (NYSE:SYY) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 121,347 shares of the company’s stock after selling 679 shares during the quarter. Bailard Inc.’s holdings in Sysco were worth $8,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Hunter Associates Investment Management LLC raised its holdings in Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Sysco by 6.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares during the last quarter. Quent Capital LLC boosted its position in Sysco by 5.0% during the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after purchasing an additional 140 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Sysco by 0.5% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock valued at $2,457,000 after purchasing an additional 149 shares during the last quarter. Finally, DeDora Capital Inc. raised its position in shares of Sysco by 2.6% in the fourth quarter. DeDora Capital Inc. now owns 6,145 shares of the company’s stock valued at $449,000 after purchasing an additional 157 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

SYY traded up $0.33 during trading on Wednesday, reaching $77.29. 1,765,214 shares of the company’s stock were exchanged, compared to its average volume of 2,901,943. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $38.48 billion, a P/E ratio of 18.90, a PEG ratio of 1.58 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The business has a 50 day moving average price of $79.26 and a 200 day moving average price of $74.67.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, analysts predict that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is 48.90%.

Insiders Place Their Bets

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Stephens upped their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Barclays raised their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets upped their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Sysco Company Profile

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.