Park National Corp OH Grows Position in Sysco Co. (NYSE:SYY)

Park National Corp OH boosted its stake in Sysco Co. (NYSE:SYY) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,518 shares of the company’s stock after purchasing an additional 1,783 shares during the quarter. Park National Corp OH’s holdings in Sysco were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Canandaigua National Bank & Trust Co. raised its position in Sysco by 9.9% during the first quarter. Canandaigua National Bank & Trust Co. now owns 7,352 shares of the company’s stock valued at $597,000 after purchasing an additional 660 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Sysco by 30.7% during the 4th quarter. Nomura Holdings Inc. now owns 21,326 shares of the company’s stock valued at $1,560,000 after purchasing an additional 5,011 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $891,000. Fairman Group LLC bought a new stake in Sysco in the 4th quarter worth approximately $39,000. Finally, Livelsberger Financial Advisory bought a new position in Sysco during the fourth quarter valued at approximately $44,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $72.68 on Wednesday. The stock has a market cap of $36.19 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.09 and a beta of 1.17. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm’s 50-day moving average is $74.42 and its 200 day moving average is $76.45.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.81%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on SYY. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. UBS Group cut their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets dropped their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.10.

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.