Sysco Corporation (SYY) Shares Bought by Telos Capital Management Inc.
Telos Capital Management Inc. boosted its stake in Sysco Corporation (NYSE:SYY) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,765 shares of the company’s stock after buying an additional 835 shares during the period. Telos Capital Management Inc.’s holdings in Sysco Corporation were worth $1,026,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SYY. Kistler Tiffany Companies LLC raised its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares in the last quarter. Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock valued at $218,000 after buying an additional 50 shares in the last quarter. Curbstone Financial Management Corp raised its stake in Sysco Corporation by 0.6% in the first quarter. Curbstone Financial Management Corp now owns 17,230 shares of the company’s stock valued at $895,000 after buying an additional 100 shares in the last quarter. Finally, Parsons Capital Management Inc. RI raised its stake in Sysco Corporation by 0.3% in the first quarter. Parsons Capital Management Inc. RI now owns 31,451 shares of the company’s stock valued at $1,633,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.
Sysco Corporation (NYSE:SYY) opened at 54.50 on Tuesday. The stock’s 50 day moving average is $54.61 and its 200 day moving average is $53.67. The company has a market cap of $29.17 billion, a P/E ratio of 28.73 and a beta of 0.53. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Equities analysts anticipate that Sysco Corporation will post $2.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Wednesday, July 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.
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Several equities analysts recently commented on the stock. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Guggenheim reissued a “neutral” rating on shares of Sysco Corporation in a research note on Tuesday, April 11th. Royal Bank Of Canada increased their price objective on shares of Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 9th. Loop Capital assumed coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They issued a “buy” rating and a $61.00 price objective for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $57.00 price objective (up previously from $53.00) on shares of Sysco Corporation in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Sysco Corporation currently has an average rating of “Hold” and a consensus price target of $56.30.
In other news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $51.96, for a total transaction of $1,558,800.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $21,133,431. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Brutto acquired 2,500 shares of Sysco Corporation stock in a transaction dated Friday, March 31st. The shares were bought at an average cost of $51.94 per share, with a total value of $129,850.00. Following the completion of the purchase, the director now owns 3,968 shares in the company, valued at $206,097.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 144,600 shares of company stock valued at $7,798,428. Corporate insiders own 8.81% of the company’s stock.
About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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