Vinva Investment Management Ltd Boosts Position in Sysco Co. (NYSE:SYY)

Vinva Investment Management Ltd boosted its position in shares of Sysco Co. (NYSE:SYY) by 13.7% in the third quarter, Holdings Channel reports. The fund owned 23,133 shares of the company’s stock after purchasing an additional 2,782 shares during the quarter. Vinva Investment Management Ltd’s holdings in Sysco were worth $1,797,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco during the third quarter valued at about $26,000. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the third quarter valued at about $31,000. Finally, Focused Wealth Management Inc bought a new stake in Sysco during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

NYSE SYY opened at $77.11 on Friday. The business has a 50-day moving average price of $75.78 and a 200-day moving average price of $74.79. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The firm has a market cap of $37.88 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SYY shares. JPMorgan Chase & Co. boosted their price target 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 boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

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.