Nuveen Asset Management LLC Sells 77,408 Shares of Sysco Co. (NYSE:SYY)

Nuveen Asset Management LLC lowered its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,069,389 shares of the company's stock after selling 77,408 shares during the period. Nuveen Asset Management LLC owned approximately 0.22% of Sysco worth $81,765,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Boston Partners grew its position in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares during the period. Norges Bank acquired a new stake in Sysco in the fourth quarter worth $450,441,000. Capital Research Global Investors increased its stake in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Sysco during the fourth quarter valued at about $123,928,000. Finally, Raymond James Financial Inc. bought a new position in shares of Sysco during the 4th quarter worth about $97,078,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.07 during midday trading on Thursday, reaching $72.16. The company's stock had a trading volume of 1,305,957 shares, compared to its average volume of 3,355,913. The stock has a market capitalization of $34.98 billion, a P/E ratio of 18.56, a PEG ratio of 1.88 and a beta of 0.80. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a 50 day moving average price of $71.76 and a 200-day moving average price of $74.00. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the prior year, the firm posted $0.96 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. 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 2.99%. Sysco's payout ratio is currently 55.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYY shares. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Guggenheim restated a "buy" rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.62.

Insider Buying and Selling at Sysco

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

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.