Bank Julius Baer & Co. Ltd Zurich Reduces Stock Position in Sysco Co. (NYSE:SYY)

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Sysco Co. (NYSE:SYY) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,829 shares of the company’s stock after selling 2,853 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sysco were worth $13,159,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Oak Hill Wealth Advisors LLC purchased a new stake in Sysco during the 4th quarter valued at $235,000. Strategic Family Wealth Counselors L.L.C. boosted its position in Sysco by 6.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 5,045 shares of the company’s stock valued at $386,000 after buying an additional 317 shares during the period. Callan Family Office LLC raised its holdings in Sysco by 1,082.1% in the 4th quarter. Callan Family Office LLC now owns 43,761 shares of the company’s stock worth $3,346,000 after purchasing an additional 40,059 shares in the last quarter. Candriam S.C.A. raised its holdings in Sysco by 320.4% in the 4th quarter. Candriam S.C.A. now owns 230,133 shares of the company’s stock worth $17,596,000 after purchasing an additional 175,390 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Sysco in the 4th quarter worth $97,078,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $76.53 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company’s 50-day moving average is $73.47 and its 200 day moving average is $75.61. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth 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 (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS 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 quarter in the prior year, the business posted $0.89 EPS. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is presently 52.44%.

Analysts Set New Price Targets

Several brokerages have commented on SYY. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Barclays decreased their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.54% of the company’s stock.

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.