Huntington National Bank Sells 11,236 Shares of Sysco Co. (NYSE:SYY)

Huntington National Bank trimmed its position in Sysco Co. (NYSE:SYY) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other institutional investors have also added to or reduced their stakes in the company. Cable Hill Partners LLC grew its holdings in shares of Sysco by 3.9% during the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares during the last quarter. Main Street Financial Solutions LLC boosted its position in Sysco by 43.1% in the third quarter. Main Street Financial Solutions LLC now owns 13,170 shares of the company’s stock valued at $1,028,000 after buying an additional 3,968 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Sysco by 1.5% during the third quarter. Oppenheimer & Co. Inc. now owns 48,080 shares of the company’s stock worth $3,753,000 after buying an additional 695 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of 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 buying an additional 6,267 shares in the last quarter. Finally, GHE LLC lifted its stake in shares of Sysco by 7.9% in the 3rd quarter. GHE LLC now owns 15,838 shares of the company’s stock valued at $1,146,000 after acquiring an additional 1,162 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent research reports. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

Sysco stock opened at $74.96 on Friday. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 19.27, a PEG 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 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’s 50 day moving average price is $76.08 and its two-hundred day moving average price is $74.74.

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

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.