Baird Financial Group Inc. Grows Holdings in Sysco Co. (NYSE:SYY)

Baird Financial Group Inc. increased its position in shares of Sysco Co. (NYSE:SYY – Get Rating) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 671,628 shares of the company’s stock after purchasing an additional 8,285 shares during the quarter. Baird Financial Group Inc. owned approximately 0.13% of Sysco worth $47,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Standard Family Office LLC purchased a new position in Sysco in the third quarter valued at about $25,000. Karp Capital Management Corp purchased a new position in Sysco in the third quarter valued at about $27,000. American National Bank boosted its stake in Sysco by 397.6% in the third quarter. American National Bank now owns 408 shares of the company’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in Sysco in the third quarter valued at about $32,000. Finally, Focused Wealth Management Inc boosted its stake in Sysco by 128.7% in the third quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 2,100 shares during the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $74.66 on Wednesday. The firm’s 50 day simple moving average is $77.27 and its 200 day simple moving average is $79.20. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 7.20. The firm has a market capitalization of $37.90 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. Sysco Co. has a 1-year low of $70.61 and a 1-year high of $91.53.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). The firm had revenue of $18.59 billion for the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. As a group, analysts expect that Sysco Co. will post 4.04 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 70.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SYY shares. Credit Suisse Group dropped their target price on shares of Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Morgan Stanley lowered their price target on shares of Sysco from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 10th. Finally, Truist Financial lowered their price target on shares of Sysco from $92.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.67.

Sysco Company Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.