Sysco Co. (NYSE:SYY) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its position in shares of Sysco Co. (NYSE:SYY) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,404 shares of the company’s stock after selling 198 shares during the quarter. Hancock Whitney Corp’s holdings in Sysco were worth $2,813,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYY. TruNorth Capital Management LLC acquired a new position in Sysco in the 2nd quarter valued at $25,000. Burkett Financial Services LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $30,000. OFI Invest Asset Management acquired a new position in Sysco in the first quarter valued at $31,000. Fairman Group LLC purchased a new position in Sysco during the fourth quarter worth about $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.19 on Friday. The business’s 50-day simple moving average is $75.87 and its 200 day simple moving average is $75.55. The company has a market cap of $37.44 billion, a P/E ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for 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 business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 earnings per share. On average, sell-side analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco’s dividend payout ratio is presently 49.76%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SYY shares. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. 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 note on Wednesday, July 31st. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.55.

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.