Park National Corp OH Sells 5,591 Shares of Sysco Co. (NYSE:SYY)

Park National Corp OH trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 33.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,363 shares of the company’s stock after selling 5,591 shares during the period. Park National Corp OH’s holdings in Sysco were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Parvin Asset Management LLC bought a new position in Sysco during the 4th quarter worth about $29,000. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter worth about $31,000. Sherman Asset Management Inc. bought a new position in Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco during the 4th quarter worth about $31,000. Finally, SRS Capital Advisors Inc. grew its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SYY shares. Wall Street Zen lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. UBS Group decreased their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Citigroup started coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Stock Performance

Shares of Sysco stock opened at $72.06 on Friday. The firm has a market capitalization of $34.93 billion, a P/E ratio of 18.53, a PEG ratio of 1.88 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a 50 day moving average price of $71.68 and a 200 day moving average price of $73.80. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 3.00%. Sysco’s payout ratio is presently 55.96%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.