Everence Capital Management Inc. Has $1.80 Million Position in Sysco Co. (NYSE:SYY)

Everence Capital Management Inc. grew its stake in Sysco Co. (NYSE:SYY) by 41.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,650 shares of the company’s stock after buying an additional 7,250 shares during the period. Everence Capital Management Inc.’s holdings in Sysco were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its holdings in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Sysco in the first quarter valued at $32,000. Tyler Stone Wealth Management bought a new stake in Sysco during the second quarter valued at $37,000. Finally, BluePath Capital Management LLC acquired a new stake in Sysco during the 3rd quarter worth about $38,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. BMO Capital Markets upped their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Stephens lifted their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Stock Performance

Shares of SYY stock opened at $75.84 on Wednesday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a market cap of $37.76 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.54 and a beta of 1.15. The firm has a 50-day moving average of $79.60 and a 200-day moving average of $74.22. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Equities research analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

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.