Telemus Capital LLC Lowers Position in Sysco Co. (NYSE:SYY)

Telemus Capital LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 SEC.

A number of other institutional investors have also recently bought and sold shares of SYY. AE Wealth Management LLC grew its stake in Sysco by 3.6% during the third quarter. AE Wealth Management LLC now owns 34,356 shares of the company’s stock worth $2,269,000 after buying an additional 1,207 shares during the period. IFP Advisors Inc raised its holdings in Sysco by 33.6% in the third quarter. IFP Advisors Inc now owns 7,278 shares of the company’s stock valued at $481,000 after acquiring an additional 1,831 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of Sysco by 26.4% during the third quarter. Leavell Investment Management Inc. now owns 4,795 shares of the company’s stock worth $317,000 after purchasing an additional 1,000 shares during the period. Naples Global Advisors LLC raised its holdings in shares of Sysco by 6.6% during the third quarter. Naples Global Advisors LLC now owns 3,221 shares of the company’s stock worth $213,000 after purchasing an additional 200 shares during the period. Finally, Royal Fund Management LLC raised its holdings in shares of Sysco by 26.9% during the third quarter. Royal Fund Management LLC now owns 52,555 shares of the company’s stock worth $3,471,000 after purchasing an additional 11,144 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $77.33 on Tuesday. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a 50-day moving average of $79.33 and a 200-day moving average of $74.55. The firm has a market cap of $38.50 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15.

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

Sysco Dividend Announcement

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

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.