Victory Capital Management Inc. Buys 207,511 Shares of Sysco Co. (NYSE:SYY)

Victory Capital Management Inc. lifted its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 46.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 658,500 shares of the company's stock after purchasing an additional 207,511 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Sysco worth $51,403,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SYY. Capital Research Global Investors grew its holdings in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the period. ProShare Advisors LLC boosted its holdings 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 acquiring an additional 2,408,226 shares during the period. Swedbank AB purchased a new position in Sysco in the 1st quarter worth approximately $178,824,000. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

SYY stock traded up $0.21 during trading hours on Friday, hitting $75.17. 867,400 shares of the stock traded hands, compared to its average volume of 3,149,087. The stock has a 50-day simple moving average of $76.00 and a 200 day simple moving average of $74.74. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a market cap of $36.93 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.01 and a beta of 1.20. 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 (NYSE:SYY - Get Free Report) last released its quarterly 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the business earned $1.07 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 48,451 shares of the company's stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The transaction 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.

Analysts Set New Price Targets

SYY has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.