Park National Corp OH Has $1.63 Million Holdings in Sysco Co. (NYSE:SYY)

Park National Corp OH trimmed its holdings in Sysco Co. (NYSE:SYY) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,843 shares of the company’s stock after selling 250 shares during the period. Park National Corp OH’s holdings in Sysco were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Rafferty Asset Management LLC lifted its position in shares of Sysco by 4.0% during the 4th quarter. Rafferty Asset Management LLC now owns 39,126 shares of the company’s stock valued at $2,861,000 after acquiring an additional 1,502 shares during the period. CIBC Private Wealth Group LLC grew its stake in Sysco by 1.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 56,598 shares of the company’s stock worth $4,139,000 after buying an additional 669 shares in the last quarter. Capital Research Global Investors acquired a new stake in Sysco during the fourth quarter worth about $227,241,000. Capital World Investors bought a new position in Sysco in the 4th quarter valued at about $683,599,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Sysco by 56.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 64,822 shares of the company’s stock valued at $4,740,000 after buying an additional 23,316 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Sysco stock opened at $76.12 on Friday. The business has a 50 day moving average of $76.60 and a 200-day moving average of $75.39. The company has a market capitalization of $37.41 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.02 and a beta of 1.20. 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 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. On average, equities research analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYY. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Morgan Stanley decreased their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Truist Financial dropped their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.