Victory Capital Management Inc. Raises Position in Sysco Co. (NYSE:SYY)

Victory Capital Management Inc. lifted its position in Sysco Co. (NYSE:SYY) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 821,713 shares of the company’s stock after acquiring an additional 163,213 shares during the period. Victory Capital Management Inc.’s holdings in Sysco were worth $62,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SYY. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY opened at $76.53 on Friday. The stock has a market capitalization of $37.44 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The stock’s 50-day moving average price is $73.47 and its 200-day moving average price 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 issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm posted $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYY. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. UBS Group cut their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco 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.