Cullen Frost Bankers Inc. Sells 433 Shares of Sysco Co. (NYSE:SYY)

Cullen Frost Bankers Inc. lessened its holdings in Sysco Co. (NYSE:SYY) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,177 shares of the company’s stock after selling 433 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Sysco were worth $549,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SYY. Farther Finance Advisors LLC raised its position in Sysco by 10.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock worth $277,000 after purchasing an additional 340 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Sysco in the 3rd quarter worth $62,000. Graypoint LLC raised its position in Sysco by 12.1% in the 3rd quarter. Graypoint LLC now owns 4,100 shares of the company’s stock worth $320,000 after purchasing an additional 443 shares during the period. Principal Financial Group Inc. increased its position in shares of Sysco by 3.8% in the third quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock valued at $47,471,000 after acquiring an additional 22,513 shares during the period. Finally, Leavell Investment Management Inc. increased its position in shares of Sysco by 9.3% in the third quarter. Leavell Investment Management Inc. now owns 5,166 shares of the company’s stock valued at $403,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $76.53 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company’s 50-day moving average is $73.47 and its 200 day moving average is $75.61. The stock has a market capitalization of $37.44 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 quarter last year, the company earned $0.89 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYY. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.