Vinva Investment Management Ltd Increases Stock Holdings in Sysco Co. (NYSE:SYY)

Vinva Investment Management Ltd lifted its stake in shares of Sysco Co. (NYSE:SYY) by 26.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,181 shares of the company’s stock after acquiring an additional 6,048 shares during the period. Vinva Investment Management Ltd’s holdings in Sysco were worth $2,228,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC purchased a new stake in Sysco during the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. increased its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its holdings in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Down 1.8 %

NYSE:SYY opened at $71.12 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm has a market capitalization of $34.79 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business has a 50 day simple moving average of $73.15 and a 200 day simple moving average of $75.41.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given 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 2.87%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s 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 transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SYY. Wells Fargo & Company lifted their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Truist Financial lowered their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to 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.