Nisa Investment Advisors LLC lowered its stake in SYSCO Co. (NYSE:SYY) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,348 shares of the company’s stock after selling 5,160 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SYSCO were worth $12,167,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Northwest Quadrant Wealth Management LLC lifted its holdings in shares of SYSCO by 0.6% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after buying an additional 29 shares during the last quarter. Keel Point LLC lifted its holdings in SYSCO by 0.8% in the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after purchasing an additional 47 shares during the last quarter. First Interstate Bank lifted its holdings in SYSCO by 1.4% in the 2nd quarter. First Interstate Bank now owns 4,975 shares of the company’s stock worth $250,000 after purchasing an additional 67 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in SYSCO by 0.6% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,800 shares of the company’s stock worth $896,000 after purchasing an additional 100 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its holdings in SYSCO by 1.1% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock worth $520,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
In related news, SVP Greg D. Bertrand sold 81,038 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the transaction, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,495 shares of company stock valued at $17,294,631. 9.60% of the stock is owned by corporate insiders.
Several brokerages have commented on SYY. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research report on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Pivotal Research upped their price target on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Loop Capital upped their price target on SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SYSCO currently has a consensus rating of “Buy” and an average target price of $59.92.
SYSCO Co. (SYY) opened at $63.21 on Friday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. SYSCO Co. has a one year low of $48.85 and a one year high of $63.30. The stock has a market capitalization of $32,935.95, a price-to-earnings ratio of 24.79, a PEG ratio of 2.46 and a beta of 0.53.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. analysts forecast that SYSCO Co. will post 2.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a $0.36 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, January 4th. SYSCO’s dividend payout ratio is 65.45%.
SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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