Nichols & Pratt Advisers LLP MA Sells 6,300 Shares of Sysco Corporation (NYSE:SYY)

Nichols & Pratt Advisers LLP MA reduced its position in Sysco Corporation (NYSE:SYY) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,375 shares of the company’s stock after selling 6,300 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Sysco were worth $1,304,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC boosted its stake in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in Sysco during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the fourth quarter valued at $31,000. Golden State Wealth Management LLC lifted its stake in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

NYSE SYY opened at $76.88 on Friday. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a 50-day simple moving average of $73.15 and a 200 day simple moving average of $73.31. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The company has a market capitalization of $37.27 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter last year, the business posted $0.96 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is currently 52.85%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays dropped their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. UBS Group dropped their price objective on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.