22,657 Sysco Corporation $SYY Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in Sysco Corporation (NYSE:SYY) by 16.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 118,946 shares of the company’s stock after selling 22,657 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sysco were worth $9,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Sysco during the 2nd quarter worth approximately $3,596,356,000. Bank of America Corp DE purchased a new position in Sysco in the 2nd quarter valued at $482,589,000. Primecap Management Co. CA acquired a new stake in Sysco during the 2nd quarter worth $313,503,000. Bank of New York Mellon Corp acquired a new stake in shares of Sysco in the second quarter valued at about $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Sysco in the 2nd quarter worth approximately $203,861,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of SYY opened at $83.88 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market capitalization of $41.26 billion, a PE ratio of 22.92, a P/E/G ratio of 2.81 and a beta of 0.64. The stock’s 50 day moving average is $80.53 and its two-hundred day moving average is $79.27.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts anticipate that Sysco Corporation will post 5.10 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio is currently 60.11%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Citigroup upped their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Insider Activity at Sysco

In other Sysco news, EVP Ronald Phillips sold 960 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the sale, the executive vice president directly owned 49,852 shares of the company’s stock, valued at $4,137,716. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,525 shares of company stock worth $1,299,736 over the last quarter. 0.55% of the stock is owned by company insiders.

About Sysco

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.