Nisa Investment Advisors LLC Sells 34,572 Shares of Sysco Corporation (NYSE:SYY)

Nisa Investment Advisors LLC lowered its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. NorthCrest Asset Manangement LLC lifted its stake in Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after acquiring an additional 139 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the period. MV Capital Management Inc. lifted its position in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after purchasing an additional 144 shares in the last quarter. Nemes Rush Group LLC boosted its stake in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after purchasing an additional 147 shares during the period. Finally, FineMark National Bank & Trust grew its holdings in shares of Sysco by 1.8% in the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock valued at $656,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of SYY opened at $77.47 on Friday. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.30 and a beta of 0.81. Sysco Corporation has a 52-week low of $67.12 and a 52-week 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 stock has a 50 day moving average price of $73.77 and a 200 day moving average price of $73.30.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results 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 analyst estimates of $20.11 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. Research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared 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 is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 2.79%. Sysco's payout ratio is 55.96%.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Guggenheim reissued a "buy" rating and set a $82.00 target price on shares of Sysco in a research note on Tuesday. BMO Capital Markets cut their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average target price of $82.77.

Sysco 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.

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