Verdence Capital Advisors LLC Has $1.96 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Verdence Capital Advisors LLC lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 116.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,615 shares of the company’s stock after buying an additional 13,779 shares during the period. Verdence Capital Advisors LLC’s holdings in Sysco were worth $1,958,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Sound Financial Strategies Group LLC lifted its stake in Sysco by 16.8% in the 4th quarter. Sound Financial Strategies Group LLC now owns 11,112 shares of the company’s stock valued at $850,000 after purchasing an additional 1,595 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Sysco in the 4th quarter valued at about $8,813,000. Seizert Capital Partners LLC lifted its stake in Sysco by 9.2% in the 4th quarter. Seizert Capital Partners LLC now owns 545,271 shares of the company’s stock valued at $41,691,000 after purchasing an additional 45,742 shares during the last quarter. Atria Investments Inc lifted its stake in Sysco by 8.1% in the 4th quarter. Atria Investments Inc now owns 40,885 shares of the company’s stock valued at $3,126,000 after purchasing an additional 3,080 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Sysco by 38.7% in the 4th quarter. Assetmark Inc. now owns 1,706 shares of the company’s stock valued at $130,000 after purchasing an additional 476 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.6 %

Shares of SYY opened at $74.48 on Thursday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The firm’s 50 day moving average is $73.52 and its 200-day moving average is $75.62. The stock has a market capitalization of $36.44 billion, a PE ratio of 19.15, a P/E/G 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 (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the firm earned $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s dividend payout ratio is 52.44%.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent analyst reports. Barclays cut their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target 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. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

Sysco 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.