Park National Corp OH Has $853,000 Position in Sysco Co. (NYSE:SYY)

Park National Corp OH reduced its position in Sysco Co. (NYSE:SYY - Free Report) by 33.0% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. Buckley Wealth Management LLC increased its position in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC grew its position in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after buying an additional 386 shares during the period. Boston Trust Walden Corp grew its position in shares of Sysco by 179.5% during the 4th quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after buying an additional 516,585 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Sysco during the 4th quarter worth $54,000. Finally, Empower Advisory Group LLC grew its holdings in Sysco by 4.1% during the 4th quarter. Empower Advisory Group LLC now owns 1,054,448 shares of the company's stock worth $80,623,000 after acquiring an additional 41,944 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY stock traded up $0.92 during trading hours on Friday, reaching $72.99. The stock had a trading volume of 5,362,878 shares, compared to its average volume of 3,334,521. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The stock has a market capitalization of $35.38 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The stock has a 50-day simple moving average of $71.73 and a 200 day simple moving average of $73.77. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is 55.96%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYY shares. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Barclays reduced their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $83.00.

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.