Baxter Bros Inc. Sells 145 Shares of Sysco Co. (NYSE:SYY)

Baxter Bros Inc. trimmed its stake in Sysco Co. (NYSE:SYY) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 33,760 shares of the company’s stock after selling 145 shares during the quarter. Baxter Bros Inc.’s holdings in Sysco were worth $2,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SYY. Fortem Financial Group LLC grew its stake in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after acquiring an additional 136 shares during the period. Morton Community Bank grew its position in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares during the period. SRS Capital Advisors Inc. raised its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the last quarter. FineMark National Bank & Trust lifted its holdings in shares of Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after buying an additional 149 shares during the period. Finally, S.A. Mason LLC boosted its stake in shares of Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after buying an additional 150 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SYY shares. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Morgan Stanley cut their target price 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. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Finally, Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of SYY stock opened at $71.42 on Tuesday. The stock has a 50 day moving average price of $73.05 and a 200 day moving average price of $75.26. The firm has a market capitalization of $34.94 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.88 and a beta of 1.11. 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 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 in the previous year, the firm earned $0.89 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.86%. Sysco’s payout ratio is currently 52.44%.

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.