OLD National Bancorp IN Sells 1,859 Shares of Sysco Co. (NYSE:SYY)

OLD National Bancorp IN lessened its stake in shares of Sysco Co. (NYSE:SYY) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,255 shares of the company’s stock after selling 1,859 shares during the period. OLD National Bancorp IN’s holdings in Sysco were worth $1,701,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SYY. AdvisorNet Financial Inc grew its holdings in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Sysco in the third quarter valued at about $38,000. Milestone Investment Advisors LLC purchased a new position in shares of Sysco in the third quarter valued at about $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in shares of Sysco in the third quarter valued at about $42,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays boosted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Stephens boosted their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by insiders.

Sysco Trading Up 0.8 %

Shares of NYSE SYY opened at $77.33 on Tuesday. The business’s 50 day moving average is $79.33 and its two-hundred day moving average is $74.55. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The stock has a market capitalization of $38.50 billion, a P/E ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.59%. Sysco’s payout ratio is currently 48.90%.

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.