Brighton Jones LLC Boosts Holdings in Sysco Co. (NYSE:SYY)

Brighton Jones LLC lifted its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,578 shares of the company's stock after acquiring an additional 4,723 shares during the quarter. Brighton Jones LLC's holdings in Sysco were worth $6,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC increased its position in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in Sysco in the fourth quarter valued at $29,000. Stonebridge Financial Group LLC bought a new stake in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the 4th quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the 4th quarter worth about $31,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 1.5%

Shares of Sysco stock traded down $1.15 during trading hours on Friday, reaching $74.24. The company's stock had a trading volume of 2,255,195 shares, compared to its average volume of 3,334,535. The company has a market capitalization of $35.99 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 0.81. The stock's fifty day simple moving average is $71.98 and its two-hundred day simple moving average is $73.67. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. Sysco's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. On average, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.91%. Sysco's payout ratio is presently 55.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays cut their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective for the company. BMO Capital Markets cut their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group reduced their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.00.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

About Sysco

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.