Baldwin Investment Management LLC Has $438,000 Stock Position in Sysco Co. (NYSE:SYY)

Baldwin Investment Management LLC cut its stake in shares of Sysco Co. (NYSE:SYY) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,615 shares of the company’s stock after selling 400 shares during the period. Baldwin Investment Management LLC’s holdings in Sysco were worth $438,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cadence Bank boosted its position in shares of Sysco by 2.3% in the third quarter. Cadence Bank now owns 65,583 shares of the company’s stock valued at $5,119,000 after acquiring an additional 1,449 shares during the period. Transamerica Financial Advisors Inc. raised its stake in Sysco by 19.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,346 shares of the company’s stock worth $184,000 after purchasing an additional 383 shares in the last quarter. Brooklyn Investment Group bought a new stake in Sysco in the 3rd quarter valued at about $98,000. Summit Financial Wealth Advisors LLC grew its position in shares of Sysco by 0.6% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 101,774 shares of the company’s stock worth $7,944,000 after purchasing an additional 651 shares in the last quarter. Finally, West Tower Group LLC bought a new position in shares of Sysco during the third quarter worth approximately $273,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $76.65 on Thursday. The firm has a 50 day simple moving average of $75.70 and a 200 day simple moving average of $74.76. The company has a market cap of $37.65 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.02 and a beta of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period last year, the business earned $1.07 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Ratings Changes

Several brokerages recently issued reports on SYY. JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.