Sysco Co. (NYSE:SYY) Shares Sold by Huntington National Bank

Huntington National Bank reduced its position in shares of Sysco Co. (NYSE:SYY) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 219,487 shares of the company’s stock after selling 8,405 shares during the quarter. Huntington National Bank’s holdings in Sysco were worth $16,782,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Boston Partners raised its position in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares during the period. Norges Bank acquired a new stake in Sysco during the fourth quarter worth $450,441,000. State Street Corp raised its position in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Mondrian Investment Partners LTD acquired a new position in shares of Sysco in the 4th quarter valued at $123,928,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sysco during the 4th quarter worth $97,078,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY stock opened at $75.28 on Thursday. The business’s 50-day moving average is $73.11 and its two-hundred day moving average is $75.10. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $36.83 billion, a P/E ratio of 19.35, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 period in the previous year, the business earned $0.89 EPS. Analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYY. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.