OLD National Bancorp IN Has $1.70 Million Stock Holdings in Sysco Co. (NYSE:SYY)

OLD National Bancorp IN cut its holdings in Sysco Co. (NYSE:SYY) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,255 shares of the company’s stock after selling 1,859 shares during the quarter. OLD National Bancorp IN’s holdings in Sysco were worth $1,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brendel Financial Advisors LLC acquired a new stake in shares of Sysco in the fourth quarter valued at $3,115,000. Handelsbanken Fonder AB increased its stake in shares of Sysco by 3.2% in the fourth quarter. Handelsbanken Fonder AB now owns 274,901 shares of the company’s stock valued at $20,104,000 after buying an additional 8,645 shares in the last quarter. CWM LLC increased its stake in shares of Sysco by 38.1% in the fourth quarter. CWM LLC now owns 43,357 shares of the company’s stock valued at $3,171,000 after buying an additional 11,963 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Sysco by 6.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,990 shares of the company’s stock valued at $4,095,000 after acquiring an additional 3,612 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Sysco by 20.5% in the fourth quarter. Signaturefd LLC now owns 6,261 shares of the company’s stock valued at $458,000 after acquiring an additional 1,065 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated 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 in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Sysco Price Performance

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

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating 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 business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the previous year, the business posted $0.80 EPS. Sysco’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 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.