Baird Financial Group Inc. Buys 8,285 Shares of Sysco Co. (NYSE:SYY)

Baird Financial Group Inc. grew its stake in Sysco Co. (NYSE:SYY – Get Rating) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 671,628 shares of the company’s stock after purchasing an additional 8,285 shares during the quarter. Baird Financial Group Inc.’s holdings in Sysco were worth $47,490,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SYY. Standard Family Office LLC bought a new position in shares of Sysco in the 3rd quarter worth about $25,000. Karp Capital Management Corp bought a new position in shares of Sysco in the 3rd quarter worth about $27,000. American National Bank increased its stake in shares of Sysco by 397.6% in the 3rd quarter. American National Bank now owns 408 shares of the company’s stock worth $29,000 after acquiring an additional 326 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Sysco in the 3rd quarter worth about $32,000. Finally, Focused Wealth Management Inc increased its stake in shares of Sysco by 128.7% in the 3rd quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 2,100 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of SYY stock opened at $74.66 on Wednesday. The company has a 50 day moving average price of $77.27 and a 200-day moving average price of $79.20. Sysco Co. has a 52 week low of $70.61 and a 52 week high of $91.53. The firm has a market capitalization of $37.90 billion, a PE ratio of 26.95, a P/E/G ratio of 1.42 and a beta of 1.10. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 7.20.

Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). The company had revenue of $18.59 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.04 earnings per share for the current year.

Sysco Dividend Announcement

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

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Wells Fargo & Company reduced their price objective on shares of Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, January 4th. BMO Capital Markets reduced their price objective on shares of Sysco from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. Bank of America initiated coverage on shares of Sysco in a research note on Thursday, March 9th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Barclays reduced their price objective on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.