Huntington National Bank Has $17.79 Million Stock Position in Sysco Co. (NYSE:SYY)

Huntington National Bank lowered its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,892 shares of the company's stock after selling 11,236 shares during the period. Huntington National Bank's holdings in Sysco were worth $17,789,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in shares of Sysco in the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter worth approximately $26,000. Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC bought a new stake in Sysco during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group boosted their target price on shares of 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 cut their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $85.77.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

SYY traded down $0.01 during trading on Friday, reaching $74.95. 2,634,538 shares of the company's stock were exchanged, compared to its average volume of 3,157,056. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a market capitalization of $36.82 billion, a P/E ratio of 19.32, a PEG ratio of 2.01 and a beta of 1.20. 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 business has a 50 day moving average price of $76.00 and a 200 day moving average price of $74.74.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the company earned $1.07 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. As a group, analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

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.