Telos Capital Management Inc. Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Telos Capital Management Inc. lowered its position in shares of Sysco Co. (NYSE:SYY) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,975 shares of the company’s stock after selling 1,426 shares during the period. Telos Capital Management Inc.’s holdings in Sysco were worth $5,853,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Fairscale Capital LLC bought a new stake in Sysco during the second quarter valued at approximately $38,000. LRI Investments LLC purchased a new position in Sysco in the 1st quarter worth approximately $45,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Sysco in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.1 %

Shares of NYSE SYY opened at $74.71 on Tuesday. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.97 and a beta of 1.20. 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 firm’s fifty day moving average is $76.54 and its 200 day moving average is $74.84. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, equities research analysts expect that Sysco Co. will post 4.6 earnings per share for the current 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 issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research reports. Truist Financial cut their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Bank of America decreased their price target 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.