Cullen Frost Bankers Inc. Raises Holdings in Sysco Corporation $SYY

Cullen Frost Bankers Inc. raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,091 shares of the company’s stock after purchasing an additional 1,260 shares during the period. Cullen Frost Bankers Inc.’s holdings in Sysco were worth $764,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SYY. Chung Wu Investment Group LLC purchased a new position in shares of Sysco in the 2nd quarter worth $30,000. Golden State Wealth Management LLC boosted its stake in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco in the 1st quarter worth $33,000. 1248 Management LLC purchased a new position in shares of Sysco in the 1st quarter worth $35,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Sysco in the 1st quarter worth $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

NYSE:SYY opened at $77.30 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The business’s 50-day simple moving average is $80.53 and its two-hundred day simple moving average is $76.78. The stock has a market cap of $36.99 billion, a PE ratio of 20.72, a P/E/G ratio of 2.41 and a beta of 0.82. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $88.00 price target on Sysco in a research note on Tuesday. Barclays raised their price target on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Citigroup raised their target price on Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 14,732 shares of company stock worth $1,193,245 over the last quarter. 0.56% of the stock is owned by company insiders.

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.