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

Nisa Investment Advisors LLC lessened its stake in Sysco Corporation (NYSE:SYY) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 118,946 shares of the company’s stock after selling 22,657 shares during the period. Nisa Investment Advisors LLC’s holdings in Sysco were worth $9,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Markowski Investments purchased a new position in shares of Sysco during the second quarter valued at approximately $31,000. Parvin Asset Management LLC purchased a new position in Sysco during the 2nd quarter worth $32,000. Finally, Tacita Capital Inc bought a new stake in Sysco in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 have sold 15,525 shares of company stock worth $1,299,736 over the last ninety days. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on SYY shares. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Sysco in a research report on Wednesday, September 16th. Piper Sandler increased their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price objective on Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.42.

Sysco Stock Up 2.2%

Sysco stock opened at $83.88 on Friday. The stock has a fifty day moving average of $80.53 and a 200 day moving average of $79.27. The stock has a market cap of $41.26 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28.

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

Sysco Dividend Announcement

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 paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is presently 60.11%.

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.