Telos Capital Management Inc. Cuts Position in Sysco Co. (NYSE:SYY)

Telos Capital Management Inc. trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 83,778 shares of the company’s stock after selling 2,890 shares during the period. Telos Capital Management Inc.’s holdings in Sysco were worth $6,127,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Tyche Wealth Partners LLC bought a new position in Sysco in the 4th quarter worth about $361,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sysco by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after buying an additional 41,618 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Sysco by 41.7% during the fourth quarter. Everence Capital Management Inc. now owns 24,650 shares of the company’s stock valued at $1,803,000 after buying an additional 7,250 shares during the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of Sysco by 27.1% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 6,092 shares of the company’s stock valued at $446,000 after buying an additional 1,300 shares during the last quarter. Finally, SVB Wealth LLC increased its holdings in shares of Sysco by 34.7% in the 4th quarter. SVB Wealth LLC now owns 27,566 shares of the company’s stock worth $2,016,000 after purchasing an additional 7,102 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of Sysco stock traded down $0.65 during trading hours on Wednesday, reaching $75.18. The company’s stock had a trading volume of 1,155,934 shares, compared to its average volume of 2,932,924. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a 50 day moving average price of $79.60 and a 200-day moving average price of $74.22. The stock has a market cap of $37.43 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.54 and a beta of 1.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. On average, analysts predict that Sysco Co. will post 4.3 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.66%. Sysco’s dividend payout ratio is presently 48.90%.

Analysts Set New Price Targets

Several research firms have issued reports on SYY. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Stephens increased their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Insider Activity at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by insiders.

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.