Sysco Co. (NYSE:SYY) Stake Lessened by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its stake in Sysco Co. (NYSE:SYY) by 57.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,550 shares of the company’s stock after selling 14,100 shares during the period. Everence Capital Management Inc.’s holdings in Sysco were worth $824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the period. Diversify Advisory Services LLC acquired a new position in Sysco in the first quarter worth $1,677,000. Finally, Shell Asset Management Co. boosted its holdings in shares of Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYY. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Barclays boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Performance

Shares of SYY stock traded down $0.21 during trading hours on Monday, reaching $75.33. 1,073,557 shares of the company’s stock were exchanged, compared to its average volume of 3,153,508. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89. The stock has a market capitalization of $37.01 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.97 and a beta of 1.20. The business has a fifty day moving average price of $76.55 and a 200-day moving average price of $74.85. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. Analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.