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

Victory Capital Management Inc. grew its stake in Sysco Co. (NYSE:SYY) by 46.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,500 shares of the company’s stock after buying an additional 207,511 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Sysco worth $51,403,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYY. Capital World Investors raised its stake in Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after acquiring an additional 1,637,232 shares during the period. Ameriprise Financial Inc. raised its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares in the last quarter. Capital Research Global Investors boosted its holdings in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares during the period. Finally, ProShare Advisors LLC increased its stake in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 2.2 %

Shares of NYSE SYY opened at $74.96 on Friday. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 2.03 and a beta of 1.20. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm’s 50-day moving average price is $76.08 and its 200-day moving average price is $74.74.

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

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.77.

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.