Huntington National Bank Lowers Position in Sysco Co. (NYSE:SYY)

Huntington National Bank decreased its position in Sysco Co. (NYSE:SYY) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,892 shares of the company’s stock after selling 11,236 shares during the quarter. Huntington National Bank’s holdings in Sysco were worth $17,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cable Hill Partners LLC boosted its holdings in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Sysco by 43.1% in the 3rd quarter. Main Street Financial Solutions LLC now owns 13,170 shares of the company’s stock worth $1,028,000 after buying an additional 3,968 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Sysco by 1.5% during the third quarter. Oppenheimer & Co. Inc. now owns 48,080 shares of the company’s stock valued at $3,753,000 after acquiring an additional 695 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Sysco by 23.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 33,057 shares of the company’s stock worth $2,580,000 after acquiring an additional 6,267 shares during the period. Finally, GHE LLC boosted its position in Sysco by 7.9% in the third quarter. GHE LLC now owns 15,838 shares of the company’s stock worth $1,146,000 after purchasing an additional 1,162 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SYY shares. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Performance

Shares of SYY opened at $74.96 on Friday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The stock’s 50-day simple moving average is $76.08 and its 200 day simple moving average is $74.74.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. Research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

About Sysco

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.