Hancock Whitney Corp Has $3.09 Million Position in Sysco Co. (NYSE:SYY)

Hancock Whitney Corp increased its holdings in shares of Sysco Co. (NYSE:SYY) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 39,601 shares of the company’s stock after purchasing an additional 197 shares during the period. Hancock Whitney Corp’s holdings in Sysco were worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its holdings in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Swedbank AB acquired a new position in Sysco during the 1st quarter valued at $178,824,000. Diamond Hill Capital Management Inc. raised its stake in Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. grew its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Sysco in the 3rd quarter worth $137,900,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $76.89 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market cap of $37.77 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company’s 50-day moving average price is $75.68 and its two-hundred day moving average price is $74.75.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s dividend payout ratio is 52.44%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.