Nisa Investment Advisors LLC Reduces Position in Sysco Corporation (NYSE:SYY)

Nisa Investment Advisors LLC reduced its stake in Sysco Corporation (NYSE:SYY - Free Report) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,241 shares of the company's stock after selling 34,572 shares during the quarter. Nisa Investment Advisors LLC's holdings in Sysco were worth $13,825,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SYY. Boston Partners raised its holdings in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after acquiring an additional 7,184,754 shares during the period. Norges Bank bought a new stake in Sysco during the fourth quarter valued at about $450,441,000. Capital Research Global Investors raised its holdings in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after acquiring an additional 1,928,002 shares during the period. Mondrian Investment Partners LTD bought a new stake in Sysco during the fourth quarter valued at about $123,928,000. Finally, Canoe Financial LP raised its holdings in Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the period. 83.41% of the stock is owned by institutional investors.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the business's 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 owned 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group decreased their price target on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. raised their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average target price of $82.77.

Sysco Trading Down 0.9%

SYY traded down $0.66 on Friday, hitting $76.80. The company had a trading volume of 3,049,106 shares, compared to its average volume of 3,242,861. The company has a market cap of $37.23 billion, a PE ratio of 19.90, a PEG ratio of 2.32 and a beta of 0.81. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business's fifty day simple moving average is $73.90 and its 200 day simple moving average is $73.27.

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

Sysco Increases Dividend

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

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.