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

Bailard Inc. cut its holdings in Sysco Co. (NYSE:SYY) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,347 shares of the company’s stock after selling 679 shares during the period. Bailard Inc.’s holdings in Sysco were worth $8,874,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYY. AdvisorNet Financial Inc lifted its stake in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after buying an additional 179 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Sysco in the 3rd quarter valued at $38,000. Milestone Investment Advisors LLC acquired a new stake in Sysco during the 3rd quarter worth $40,000. Finally, AllSquare Wealth Management LLC purchased a new stake in Sysco in the third quarter valued at $42,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

NYSE:SYY traded up $0.33 during midday trading on Wednesday, reaching $77.29. The stock had a trading volume of 1,765,214 shares, compared to its average volume of 2,901,943. The stock has a market cap of $38.48 billion, a P/E ratio of 18.90, a P/E/G 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. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The firm has a fifty day simple moving average of $79.26 and a two-hundred day simple moving average of $74.67.

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

Sysco Dividend Announcement

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

Insider Activity

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s 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 transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Stephens increased their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price 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.