Cullen Frost Bankers Inc. Decreases Stake in Sysco Co. (NYSE:SYY)

Cullen Frost Bankers Inc. decreased its position in Sysco Co. (NYSE:SYY) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,177 shares of the company’s stock after selling 433 shares during the period. Cullen Frost Bankers Inc.’s holdings in Sysco were worth $549,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New England Asset Management Inc. increased its stake in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. WR Wealth Planners LLC increased its stake in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after purchasing an additional 386 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 1.9 %

Shares of NYSE:SYY opened at $76.53 on Friday. The firm has a fifty day moving average price of $73.47 and a two-hundred day moving average price of $75.61. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business posted $0.89 earnings per share. Analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYY shares. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley reduced their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco 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.