SeaBridge Investment Advisors LLC Sells 8,717 Shares of Sysco Co. (NYSE:SYY)

SeaBridge Investment Advisors LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 28.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,080 shares of the company’s stock after selling 8,717 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Sysco were worth $1,576,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYY. TruNorth Capital Management LLC bought a new stake in Sysco in the second quarter valued at approximately $25,000. First United Bank & Trust acquired a new stake in Sysco during the fourth quarter worth approximately $26,000. Verity & Verity LLC acquired a new position in Sysco in the first quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Sysco during the 1st quarter worth approximately $31,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SYY shares. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Finally, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.27.

Sysco Stock Up 0.6 %

Shares of NYSE SYY traded up $0.44 during trading on Friday, hitting $77.97. The stock had a trading volume of 2,346,457 shares, compared to its average volume of 2,479,362. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a fifty day moving average of $74.07 and a two-hundred day moving average of $75.84. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a market capitalization of $38.32 billion, a PE ratio of 19.02, a PEG ratio of 2.03 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.62%. Sysco’s dividend payout ratio is currently 49.76%.

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.