Victory Capital Management Inc. Boosts Stake in Sysco Co. (NYSE:SYY)

Victory Capital Management Inc. increased its position in Sysco Co. (NYSE:SYY) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 821,713 shares of the company’s stock after buying an additional 163,213 shares during the period. Victory Capital Management Inc. owned 0.17% of Sysco worth $62,828,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the third quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco during the fourth quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.9 %

Shares of NYSE:SYY opened at $76.53 on Friday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The stock has a market cap of $37.44 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The business’s 50 day moving average is $73.47 and its 200 day moving average is $75.62. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the company earned $0.89 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

About Sysco

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.