OLD National Bancorp IN Increases Stock Holdings in Sysco Co. (NYSE:SYY)

OLD National Bancorp IN lifted its stake in Sysco Co. (NYSE:SYY) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,977 shares of the company’s stock after purchasing an additional 1,924 shares during the quarter. OLD National Bancorp IN’s holdings in Sysco were worth $2,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. National Pension Service lifted its stake in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares during the last quarter. New England Asset Management Inc. lifted its stake in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after acquiring an additional 14,810 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after acquiring an additional 8,891 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 2.0 %

Shares of SYY stock opened at $73.33 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.73. The stock’s fifty day moving average price is $76.40 and its 200 day moving average price is $76.00. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SYY shares. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.21.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock valued at $6,181,946 in the last quarter. 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.