Everence Capital Management Inc. Sells 14,100 Shares of Sysco Co. (NYSE:SYY)

Everence Capital Management Inc. lessened its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 57.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,550 shares of the company's stock after selling 14,100 shares during the quarter. Everence Capital Management Inc.'s holdings in Sysco were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in shares of Sysco by 52.5% during the fourth quarter. Fisher Asset Management LLC now owns 8,084 shares of the company's stock worth $591,000 after acquiring an additional 2,784 shares in the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Sysco in the 1st quarter valued at about $105,000. Ballentine Partners LLC lifted its holdings in shares of Sysco by 2.9% in the first quarter. Ballentine Partners LLC now owns 10,055 shares of the company's stock valued at $816,000 after purchasing an additional 281 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Sysco during the first quarter worth about $1,145,000. Finally, Riverview Trust Co bought a new position in shares of Sysco during the first quarter worth about $77,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

SYY traded down $0.83 during trading hours on Monday, reaching $74.71. The company's stock had a trading volume of 2,397,812 shares, compared to its average volume of 3,160,146. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company's 50-day moving average is $76.54 and its 200-day moving average is $74.84. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The firm has a market cap of $36.70 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analysts' expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. On average, equities analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Analysts Set New Price Targets

Several equities research analysts have commented on SYY shares. Barclays boosted 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. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday. Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, June 24th. Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.08.

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.