Baird Financial Group Inc. Sells 325,287 Shares of Sysco Corporation $SYY

Key Points

• Baird Financial Group Inc. has reduced its stake in Sysco Corporation by 46.3%, selling 325,287 shares and now holding approximately 0.08% of the company valued at $28.34 million.
• Sysco recently announced a quarterly dividend of $0.54 per share, representing an annual yield of 2.7%, with a payout ratio of 57.91%.
• Wall Street analysts maintain a Moderate Buy consensus rating for Sysco, with target prices ranging from $77.00 to $90.00.

Baird Financial Group Inc. trimmed its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 46.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 377,675 shares of the company's stock after selling 325,287 shares during the period. Baird Financial Group Inc. owned approximately 0.08% of Sysco worth $28,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after buying an additional 3,015,714 shares during the period. Canoe Financial LP lifted its stake in shares of Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares during the period. Nuveen LLC bought a new stake in shares of Sysco in the first quarter valued at about $85,341,000. Burgundy Asset Management Ltd. lifted its stake in shares of Sysco by 251.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Sysco by 9,792.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock valued at $74,978,000 after buying an additional 970,703 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYY. Bank of America increased their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Price Performance

NYSE:SYY traded up $0.39 during mid-day trading on Wednesday, hitting $80.94. The company's stock had a trading volume of 3,969,713 shares, compared to its average volume of 2,910,471. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.64. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company has a market capitalization of $39.23 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 2.49 and a beta of 0.80. The stock has a fifty day moving average of $78.99 and a 200-day moving average of $74.89.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald L. Phillips sold 6,286 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president directly owned 34,404 shares of the company's stock, valued at approximately $2,786,724. The trade was a 15.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,026 shares of company stock valued at $6,766,059. 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.