Versant Capital Management Inc Buys 747 Shares of Sysco Co. (NYSE:SYY)

Versant Capital Management Inc increased its stake in shares of Sysco Co. (NYSE:SYY) by 149.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,247 shares of the company’s stock after buying an additional 747 shares during the quarter. Versant Capital Management Inc’s holdings in Sysco were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in Sysco by 49.0% during the second quarter. Farther Finance Advisors LLC now owns 3,204 shares of the company’s stock worth $224,000 after purchasing an additional 1,054 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Sysco by 3.3% in the 2nd quarter. TD Asset Management Inc now owns 183,372 shares of the company’s stock worth $13,091,000 after buying an additional 5,810 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Sysco by 19.8% in the second quarter. National Bank of Canada FI now owns 202,467 shares of the company’s stock valued at $14,147,000 after acquiring an additional 33,429 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Sysco by 1.6% during the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company’s stock valued at $32,196,000 after acquiring an additional 6,998 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Sysco by 6.3% during the second quarter. Private Advisor Group LLC now owns 37,895 shares of the company’s stock worth $2,705,000 after acquiring an additional 2,232 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of several research analyst reports. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 in the last quarter. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $75.43 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The firm has a market capitalization of $37.05 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The firm’s 50 day simple moving average is $77.04 and its 200 day simple moving average is $75.67.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.70%. Sysco’s payout ratio is presently 52.44%.

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.