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

VELA Investment Management LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,670 shares of the company’s stock after buying an additional 2,452 shares during the quarter. Sysco makes up 1.3% of VELA Investment Management LLC’s holdings, making the stock its 13th biggest holding. VELA Investment Management LLC’s holdings in Sysco were worth $4,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heritage Oak Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter worth $282,000. Proficio Capital Partners LLC bought a new stake in shares of Sysco in the fourth quarter worth $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 purchasing an additional 289 shares during the last quarter. 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 purchasing an additional 67,920 shares during the last quarter. 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 purchasing an additional 3,200 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.6 %

Shares of SYY opened at $74.68 on Friday. The firm’s 50-day moving average price is $73.69 and its 200-day moving average price is $75.64. The firm has a market capitalization of $36.54 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 business posted $0.89 EPS. Sell-side analysts anticipate 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. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 in the last three months. Company insiders own 0.54% of the company’s stock.

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.