Mesirow Financial Investment Management Inc. Sells 337 Shares of Sysco Co. (NYSE:SYY)

Mesirow Financial Investment Management Inc. decreased its position in shares of Sysco Co. (NYSE:SYY) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,513 shares of the company’s stock after selling 337 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Sysco were worth $651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Sysco by 53.0% during the fourth 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. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced their price objective 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. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Sysco Stock Up 1.9 %

NYSE SYY opened at $76.53 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a fifty day moving average of $73.47 and a two-hundred day moving average of $75.61. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.88 and a beta of 1.11. 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 data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business earned $0.89 earnings per share. On average, analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.