OLD National Bancorp IN Has $2.19 Million Position in Sysco Co. (NYSE:SYY)

OLD National Bancorp IN boosted its position in Sysco Co. (NYSE:SYY) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,053 shares of the company’s stock after buying an additional 3,367 shares during the quarter. OLD National Bancorp IN’s holdings in Sysco were worth $2,190,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the 2nd quarter worth about $25,000. OFI Invest Asset Management bought a new position in shares of Sysco in the 1st quarter valued at about $31,000. Fairscale Capital LLC acquired a new stake in shares of Sysco in the second quarter valued at about $38,000. Finally, LRI Investments LLC bought a new stake in Sysco during the first quarter worth about $45,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SYY. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Price Performance

Sysco stock opened at $75.54 on Monday. The company has a market capitalization of $37.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 12 month low of $64.28 and a 12 month high of $82.89. The stock’s 50 day moving average is $76.55 and its 200-day moving average is $74.85.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.