Brighton Jones LLC Sells 21,373 Shares of Sysco Co. (NYSE:SYY)

Brighton Jones LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other institutional investors have also recently bought and sold shares of SYY. State Street Corp increased its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. increased its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

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

Sysco Stock Up 0.4 %

Shares of Sysco stock opened at $73.71 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market capitalization of $36.21 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The business has a 50-day moving average of $76.48 and a two-hundred day moving average of $75.88.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were 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 owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction 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. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock worth $6,485,050 over the last three months. Corporate insiders own 0.54% of the company’s stock.

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.