Sysco Co. (NYSE:SYY) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 21.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 183,984 shares of the company’s stock after buying an additional 32,887 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sysco were worth $14,362,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in Sysco during the 2nd quarter valued at about $25,000. Canoe Financial LP acquired a new position in Sysco during the 3rd quarter valued at about $38,000. Fairscale Capital LLC acquired a new position in Sysco during the 2nd quarter valued at about $38,000. Finally, LRI Investments LLC acquired a new position in Sysco during the 1st quarter valued at about $45,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 1.2 %

Shares of SYY opened at $74.17 on Wednesday. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $36.44 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.93 and a beta of 1.20. The stock’s 50-day moving average price is $76.34 and its 200-day moving average price is $74.75.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.