Telemus Capital LLC Sells 3,812 Shares of Sysco Co. (NYSE:SYY)

Telemus Capital LLC lowered its stake in Sysco Co. (NYSE:SYY) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,616 shares of the company’s stock after selling 3,812 shares during the quarter. Telemus Capital LLC’s holdings in Sysco were worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SYY. AdvisorNet Financial Inc boosted its stake in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Sysco in the 3rd quarter valued at about $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Sysco in the 3rd quarter valued at about $40,000. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of Sysco in the 3rd quarter valued at about $42,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

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

Sysco Stock Performance

Shares of NYSE SYY opened at $77.33 on Tuesday. The stock’s 50-day moving average is $79.33 and its 200 day moving average is $74.55. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The stock has a market cap of $38.50 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.59%. Sysco’s payout ratio is 48.90%.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco 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 sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Sysco Company 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.