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

Bailard Inc. cut its stake in shares of Sysco Co. (NYSE:SYY) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,798 shares of the company’s stock after selling 270 shares during the period. Bailard Inc.’s holdings in Sysco were worth $7,936,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SYY. Assenagon Asset Management S.A. boosted its position in Sysco by 10.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 15,997 shares of the company’s stock worth $1,249,000 after purchasing an additional 1,551 shares during the period. Pinnacle Associates Ltd. boosted its position in Sysco by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 25,261 shares of the company’s stock worth $1,847,000 after purchasing an additional 351 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Sysco by 5.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 11,320 shares of the company’s stock worth $884,000 after purchasing an additional 571 shares during the period. CacheTech Inc. boosted its position in Sysco by 2.6% during the 3rd quarter. CacheTech Inc. now owns 29,571 shares of the company’s stock worth $2,308,000 after purchasing an additional 749 shares during the period. Finally, Cambiar Investors LLC boosted its position in Sysco by 40.5% during the 3rd quarter. Cambiar Investors LLC now owns 615,702 shares of the company’s stock worth $48,062,000 after purchasing an additional 177,425 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock worth $5,965,519 over the last quarter. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of Sysco stock opened at $75.53 on Friday. The firm has a market cap of $36.95 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The firm’s 50-day simple moving average is $73.66 and its 200-day simple moving average is $75.65. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm posted $0.89 EPS. Equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.70%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley decreased their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

About Sysco

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.