Verdence Capital Advisors LLC Raises Stock Holdings in Sysco Corporation $SYY

Verdence Capital Advisors LLC boosted its holdings in Sysco Corporation (NYSE:SYY) by 0.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 32,536 shares of the company’s stock after acquiring an additional 233 shares during the period. Verdence Capital Advisors LLC’s holdings in Sysco were worth $2,464,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. increased its position in shares of Sysco by 6.4% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 3,047 shares of the company’s stock valued at $243,000 after purchasing an additional 183 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Sysco by 3.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 21,320 shares of the company’s stock valued at $1,615,000 after acquiring an additional 706 shares during the period. Total Clarity Wealth Management Inc. bought a new position in Sysco in the 2nd quarter worth approximately $368,000. Montrusco Bolton Investments Inc. boosted its stake in Sysco by 12.1% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 832,875 shares of the company’s stock worth $63,082,000 after purchasing an additional 89,602 shares during the period. Finally, MGO One Seven LLC boosted its stake in Sysco by 31.0% in the 2nd quarter. MGO One Seven LLC now owns 13,090 shares of the company’s stock worth $991,000 after purchasing an additional 3,101 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent research reports. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Guggenheim raised their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Bank of America increased their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.85.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $78.44 on Monday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $37.53 billion, a PE ratio of 21.03, a P/E/G ratio of 2.43 and a beta of 0.82. The business has a 50-day simple moving average of $80.81 and a two-hundred day simple moving average of $76.41. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is 57.91%.

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.