Sysco Corporation (NYSE:SYY) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA lowered its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,375 shares of the company's stock after selling 6,300 shares during the period. Nichols & Pratt Advisers LLP MA's holdings in Sysco were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SYY. Fisher Asset Management LLC lifted its stake in Sysco by 19.8% in the 4th quarter. Fisher Asset Management LLC now owns 14,250 shares of the company's stock worth $1,090,000 after purchasing an additional 2,358 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Sysco by 35.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,516 shares of the company's stock worth $268,000 after buying an additional 928 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Sysco in the 4th quarter valued at $54,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Sysco by 6.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,411 shares of the company's stock worth $1,561,000 after acquiring an additional 1,208 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Down 1.0%

Shares of NYSE SYY traded down $0.81 during mid-day trading on Friday, hitting $76.88. The company had a trading volume of 1,877,954 shares, compared to its average volume of 3,235,303. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a market capitalization of $37.27 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The business's 50-day simple moving average is $73.15 and its 200 day simple moving average is $73.31.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 55.96%.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.