Sysco Co. (NYSE:SYY) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 13.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 702,962 shares of the company’s stock after selling 108,622 shares during the period. Baird Financial Group Inc.’s holdings in Sysco were worth $53,748,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in Sysco during the fourth quarter worth approximately $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new stake in Sysco in the fourth quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the fourth quarter valued at $31,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $70.74 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a market cap of $34.61 billion, a P/E ratio of 18.19, a PEG ratio of 1.88 and a beta of 0.91. The company has a 50-day moving average price of $72.59 and a 200 day moving average price of $74.27.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 55.96%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYY shares. Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.38.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. The trade was a 2.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% 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.