Brighton Jones LLC Sells 5,360 Shares of Sysco Co. (NYSE:SYY)

Brighton Jones LLC lowered its stake in shares of Sysco Co. (NYSE:SYY) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,228 shares of the company’s stock after selling 5,360 shares during the period. Brighton Jones LLC’s holdings in Sysco were worth $8,058,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. increased its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the 2nd quarter worth about $25,000. Fairscale Capital LLC bought a new stake in shares of Sysco in the 2nd quarter valued at about $38,000. LRI Investments LLC acquired a new stake in Sysco in the 1st quarter valued at about $45,000. Finally, ESL Trust Services LLC bought a new position in Sysco during the first quarter worth about $49,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Down 0.2 %

NYSE SYY opened at $74.63 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market cap of $36.66 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.95 and a beta of 1.20. The company has a 50 day moving average of $76.51 and a 200-day moving average of $74.82. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 EPS. On average, equities research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s payout ratio is 52.44%.

Sysco 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.