Sysco Co. (NYSE:SYY) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC lowered its stake in shares of Sysco Co. (NYSE:SYY) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,877 shares of the company’s stock after selling 618 shares during the quarter. Bristlecone Advisors LLC’s holdings in Sysco were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Sysco in the second quarter valued at $25,000. Armstrong Advisory Group Inc. increased its position in shares of 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 purchasing an additional 310 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Sysco in the 2nd quarter valued at about $38,000. LRI Investments LLC acquired a new stake in shares of Sysco in the 1st quarter valued at about $45,000. Finally, Livelsberger Financial Advisory purchased a new position in Sysco during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.6 %

Shares of SYY stock opened at $73.92 on Friday. 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 stock has a 50-day simple moving average of $76.42 and a 200 day simple moving average of $74.78. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89. The stock has a market capitalization of $36.31 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (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 business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the previous year, the firm posted $1.34 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SYY shares. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America dropped their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

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.