Baxter Bros Inc. Has $2.58 Million Holdings in Sysco Co. (NYSE:SYY)

Baxter Bros Inc. reduced its position in Sysco Co. (NYSE:SYY) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 filing with the SEC.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barclays cut their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 0.4 %

NYSE SYY opened at $71.42 on Tuesday. 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 fifty-two week low of $69.03 and a fifty-two week high of $82.33. The stock has a market cap of $34.94 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock has a 50 day simple moving average of $73.05 and a two-hundred day simple moving average of $75.26.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 period in the previous year, the company earned $0.89 EPS. On average, analysts forecast 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 given 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 2.86%. Sysco’s payout ratio is 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

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.