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

Fifth Third Bancorp increased its stake in shares of Sysco Co. (NYSE:SYY) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,950 shares of the company’s stock after acquiring an additional 1,150 shares during the period. Fifth Third Bancorp owned about 0.05% of Sysco worth $20,487,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC raised its stake in shares of Sysco by 2.4% in the 4th quarter. Gradient Investments LLC now owns 175,980 shares of the company’s stock valued at $13,455,000 after purchasing an additional 4,080 shares during the period. Curated Wealth Partners LLC lifted its stake in Sysco by 7.8% in the 4th quarter. Curated Wealth Partners LLC now owns 16,060 shares of the company’s stock valued at $1,228,000 after acquiring an additional 1,162 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Sysco by 1.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,729 shares of the company’s stock worth $1,585,000 after acquiring an additional 196 shares during the last quarter. CX Institutional grew its stake in shares of Sysco by 6.1% during the 4th quarter. CX Institutional now owns 14,884 shares of the company’s stock worth $1,138,000 after acquiring an additional 851 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Sysco by 7.8% in the fourth quarter. Impact Partnership Wealth LLC now owns 10,245 shares of the company’s stock valued at $783,000 after purchasing an additional 743 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade 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 worth $6,485,050 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $74.81 on Friday. The firm’s fifty day moving average price is $76.45 and its two-hundred day moving average price is $75.90. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market cap of $36.75 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.04 and a beta of 1.18. Sysco Co. has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYY shares. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Morgan Stanley dropped their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.