Bartlett & CO. Wealth Management LLC Reduces Holdings in Sysco Co. (NYSE:SYY)

Bartlett & CO. Wealth Management LLC reduced its stake in Sysco Co. (NYSE:SYY) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 81,623 shares of the company’s stock after selling 7,512 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Sysco were worth $6,241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fortem Financial Group LLC lifted its position in shares of Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after acquiring an additional 146 shares in the last quarter. Cable Hill Partners LLC boosted its holdings in shares of Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after acquiring an additional 152 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Sysco by 12.3% in the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock valued at $108,000 after acquiring an additional 154 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its holdings in Sysco by 1.1% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock worth $1,217,000 after buying an additional 178 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.79.

Sysco Trading Down 0.1 %

NYSE:SYY opened at $73.41 on Thursday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business has a 50 day moving average price of $76.54 and a two-hundred day moving average price of $75.90. The company has a market cap of $36.06 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last ninety days. 0.54% of the stock is owned by company insiders.

Sysco 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.