Sysco Co. (NYSE:SYY) Stake Reduced by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,855 shares of the company’s stock after selling 21,373 shares during the period. Brighton Jones LLC’s holdings in Sysco were worth $6,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. increased its holdings in shares of Sysco by 1,240.0% in the third 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. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the 3rd quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco in the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP acquired a new stake in Sysco during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last quarter. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SYY shares. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.79.

Sysco Stock Up 0.4 %

Shares of SYY opened at $73.71 on Friday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a 50-day simple moving average of $76.48 and a 200-day simple moving average of $75.88. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a market capitalization of $36.21 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.