Hancock Whitney Corp reduced its stake in SYSCO Co. (NYSE:SYY) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,838 shares of the company’s stock after selling 11,441 shares during the period. SYSCO makes up approximately 0.7% of Hancock Whitney Corp’s holdings, making the stock its 16th largest holding. Hancock Whitney Corp owned approximately 0.06% of SYSCO worth $22,760,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in SYY. Nuveen Asset Management LLC grew its stake in shares of SYSCO by 1,804.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after purchasing an additional 2,451,242 shares during the period. Eagle Asset Management Inc. grew its position in SYSCO by 334.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,765,438 shares of the company’s stock worth $124,851,000 after acquiring an additional 1,359,384 shares during the last quarter. FMR LLC grew its position in SYSCO by 29.4% during the 1st quarter. FMR LLC now owns 5,749,922 shares of the company’s stock worth $383,865,000 after acquiring an additional 1,306,410 shares during the last quarter. BlackRock Inc. grew its position in SYSCO by 3.3% during the 2nd quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock worth $2,201,542,000 after acquiring an additional 1,004,706 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in SYSCO by 1,060.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,086,842 shares of the company’s stock worth $76,861,000 after acquiring an additional 993,153 shares during the last quarter. Institutional investors own 78.15% of the company’s stock.
SYY traded down $0.24 during mid-day trading on Tuesday, reaching $79.16. The stock had a trading volume of 64,564 shares, compared to its average volume of 2,876,620. The stock has a market capitalization of $40.47 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 0.47. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. The firm’s fifty day simple moving average is $75.60 and its two-hundred day simple moving average is $71.74. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $79.53.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is currently 43.94%.
A number of equities research analysts recently commented on SYY shares. Credit Suisse Group increased their price target on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Consumer Edge began coverage on SYSCO in a research report on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price objective on the stock. Finally, Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. SYSCO currently has a consensus rating of “Hold” and an average target price of $73.60.
In other news, SVP Brian R. Todd sold 14,706 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $78.99, for a total value of $1,161,626.94. Following the transaction, the senior vice president now owns 30,273 shares of the company’s stock, valued at approximately $2,391,264.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul T. Moskowitz sold 33,600 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $78.83, for a total value of $2,648,688.00. Following the completion of the transaction, the executive vice president now directly owns 87,268 shares in the company, valued at approximately $6,879,336.44. The disclosure for this sale can be found here. In the last three months, insiders sold 78,509 shares of company stock worth $6,104,093. 7.88% of the stock is currently owned by company insiders.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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