Nisa Investment Advisors LLC decreased its position in Sysco Corp. (NYSE:SYY) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 193,338 shares of the company’s stock after selling 2,400 shares during the period. Nisa Investment Advisors LLC’s holdings in Sysco Corp. were worth $9,476,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SYY. Kistler Tiffany Companies LLC boosted its stake in Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock worth $145,000 after buying an additional 13 shares during the last quarter. Blue Chip Partners Inc. boosted its stake in Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock worth $147,000 after buying an additional 19 shares during the last quarter. Hanson McClain Inc. boosted its stake in Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock worth $215,000 after buying an additional 45 shares during the last quarter. Crawford Investment Counsel Inc. boosted its stake in Sysco Corp. by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 5,937 shares of the company’s stock worth $301,000 after buying an additional 67 shares during the last quarter. Finally, Bruderman Asset Management LLC boosted its stake in Sysco Corp. by 2.5% in the second quarter. Bruderman Asset Management LLC now owns 2,788 shares of the company’s stock worth $141,000 after buying an additional 68 shares during the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.
Shares of Sysco Corp. (NYSE:SYY) traded down 0.41% during midday trading on Monday, reaching $53.71. The company’s stock had a trading volume of 2,579,694 shares. The stock has a market cap of $29.38 billion, a PE ratio of 29.71 and a beta of 0.49. The firm has a 50-day moving average of $50.19 and a 200-day moving average of $50.43. Sysco Corp. has a one year low of $38.84 and a one year high of $54.66.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. Sysco Corp. had a return on equity of 35.49% and a net margin of 1.99%. The firm had revenue of $14 billion for the quarter, compared to analyst estimates of $13.88 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Sysco Corp. will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This is a positive change from Sysco Corp.’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.45%. Sysco Corp.’s payout ratio is 68.13%.
A number of analysts recently issued reports on the company. Bank of America Corp. set a $54.00 target price on Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Vetr cut shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price target for the company. in a research note on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (up from $55.00) on shares of Sysco Corp. in a research note on Tuesday, August 16th. Pivotal Research raised their price target on shares of Sysco Corp. from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Tuesday, November 8th. Finally, Barclays PLC raised shares of Sysco Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $48.00 to $53.00 in a research note on Wednesday, November 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.63.
In other news, CEO William J. Delaney III sold 20,114 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $49.51, for a total transaction of $995,844.14. Following the completion of the sale, the chief executive officer now owns 422,507 shares in the company, valued at $20,918,321.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William B. Day sold 26,507 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $49.00, for a total value of $1,298,843.00. Following the sale, the insider now owns 132,790 shares of the company’s stock, valued at approximately $6,506,710. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.
About Sysco Corp.
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.