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

Bartlett & CO. Wealth Management LLC lowered its holdings in Sysco Co. (NYSE:SYY) by 8.4% during the 4th quarter, HoldingsChannel.com reports. 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.

Several other institutional investors and hedge funds have also recently modified their holdings of SYY. Paradiem LLC bought a new position in shares of Sysco during the 4th quarter valued at about $12,538,000. Advisory Alpha LLC grew its position in shares of Sysco by 14.6% in the 4th quarter. Advisory Alpha LLC now owns 3,197 shares of the company’s stock worth $244,000 after buying an additional 407 shares during the last quarter. Dakota Wealth Management grew its position in shares of Sysco by 1.9% in the 4th quarter. Dakota Wealth Management now owns 24,496 shares of the company’s stock worth $1,873,000 after buying an additional 459 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Sysco by 18.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 218,813 shares of the company’s stock worth $16,730,000 after buying an additional 34,829 shares during the last quarter. Finally, Simon Quick Advisors LLC grew its position in shares of Sysco by 30.1% in the 4th quarter. Simon Quick Advisors LLC now owns 5,055 shares of the company’s stock worth $387,000 after buying an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYY shares. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.79.

Sysco Stock Down 0.1 %

Shares of NYSE:SYY opened at $73.41 on Thursday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The stock 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. The business’s 50 day moving average is $76.54 and its 200 day moving average is $75.90. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for 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% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. Sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

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

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is currently owned by corporate insiders.

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.