VELA Investment Management LLC Buys 2,452 Shares of Sysco Co. (NYSE:SYY)

VELA Investment Management LLC lifted its stake in Sysco Co. (NYSE:SYY) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,670 shares of the company’s stock after acquiring an additional 2,452 shares during the quarter. Sysco accounts for about 1.3% of VELA Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. VELA Investment Management LLC’s holdings in Sysco were worth $4,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Heritage Oak Wealth Advisors LLC bought a new stake in shares of Sysco in the fourth quarter worth approximately $282,000. Proficio Capital Partners LLC bought a new stake in shares of Sysco in the fourth quarter worth approximately $8,813,000. Oppenheimer & Co. Inc. grew its stake in shares of Sysco by 0.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 48,369 shares of the company’s stock worth $3,698,000 after acquiring an additional 289 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Sysco by 205.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 100,977 shares of the company’s stock worth $7,721,000 after acquiring an additional 67,920 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its stake in shares of Sysco by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 196,600 shares of the company’s stock worth $15,032,000 after acquiring an additional 3,200 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays cut their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

SYY stock opened at $74.68 on Friday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a fifty day simple moving average of $73.69 and a two-hundred day simple moving average of $75.64. The firm has a market capitalization of $36.54 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the company earned $0.89 earnings per share. Analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Sysco Company 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.