Laird Norton Wetherby Wealth Management LLC Has $827,000 Stock Position in Sysco Co. (NYSE:SYY)

Laird Norton Wetherby Wealth Management LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,821 shares of the company’s stock after selling 717 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Sysco were worth $827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Barclays PLC grew its position in shares of Sysco by 43.2% in the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock valued at $133,902,000 after purchasing an additional 517,219 shares during the period. Czech National Bank lifted its stake in Sysco by 6.3% in the fourth quarter. Czech National Bank now owns 106,508 shares of the company’s stock valued at $8,144,000 after buying an additional 6,332 shares in the last quarter. Fiduciary Alliance LLC boosted its holdings in shares of Sysco by 7.6% in the fourth quarter. Fiduciary Alliance LLC now owns 3,198 shares of the company’s stock valued at $245,000 after buying an additional 226 shares during the period. Brookstone Capital Management increased its position in shares of Sysco by 6.4% during the fourth quarter. Brookstone Capital Management now owns 16,101 shares of the company’s stock worth $1,231,000 after acquiring an additional 965 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Sysco by 1.9% during the fourth quarter. Capital Investment Advisors LLC now owns 11,365 shares of the company’s stock worth $869,000 after acquiring an additional 213 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $83.38.

Sysco Price Performance

NYSE:SYY opened at $71.08 on Thursday. The stock has a market capitalization of $34.46 billion, a PE ratio of 18.27, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The firm has a fifty day simple moving average of $71.92 and a 200 day simple moving average of $74.07. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. On average, research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.04%. This is a boost from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is presently 55.96%.

Sysco 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.