Fifth Third Bancorp Has $20.49 Million Stake in Sysco Co. (NYSE:SYY)

Fifth Third Bancorp grew its position in Sysco Co. (NYSE:SYY) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,950 shares of the company’s stock after buying an additional 1,150 shares during the quarter. Fifth Third Bancorp’s holdings in Sysco were worth $20,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. Fortem Financial Group LLC raised its position in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares in the last quarter. Cable Hill Partners LLC lifted its position 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 worth $316,000 after buying an additional 152 shares during the last quarter. Brooklyn Investment Group boosted its stake in Sysco by 12.3% in the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock valued at $108,000 after buying an additional 154 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its stake in Sysco by 1.1% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock worth $1,217,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $74.81 on Friday. The stock has a market capitalization of $36.75 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.04 and a beta of 1.18. 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 $76.45 and its two-hundred day moving average price is $75.90.

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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s dividend payout ratio is 52.44%.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 over the last ninety days. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Finally, Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.79.

Sysco Company 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.