Bank Julius Baer & Co. Ltd Zurich Reduces Stock Holdings in Sysco Co. (NYSE:SYY)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Sysco Co. (NYSE:SYY) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,026 shares of the company’s stock after selling 9,184 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sysco were worth $9,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc boosted its position in Sysco by 74.0% in 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 grew its stake in shares of Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the period. BluePath Capital Management LLC purchased a new stake in Sysco in the 3rd quarter worth approximately $38,000. Milestone Investment Advisors LLC bought a new stake in Sysco during the 3rd quarter worth approximately $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in Sysco during the third quarter valued at approximately $42,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY remained flat at $77.07 on Friday. 2,062,039 shares of the company were exchanged, compared to its average volume of 2,884,593. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a 50 day moving average price of $79.21 and a two-hundred day moving average price of $74.68. The firm has a market capitalization of $38.37 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating 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 company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued 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 yield of 2.60%. Sysco’s payout ratio is 48.90%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stephens lifted their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price target 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

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.