Cullen Frost Bankers Inc. Purchases 9,716 Shares of SYSCO Co. (NYSE:SYY)

Cullen Frost Bankers Inc. boosted its position in shares of SYSCO Co. (NYSE:SYY) by 53.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,014 shares of the company’s stock after acquiring an additional 9,716 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in SYSCO were worth $2,397,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC lifted its position in SYSCO by 1.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 9,459 shares of the company’s stock valued at $809,000 after acquiring an additional 124 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in SYSCO by 2.0% during the third quarter. Chicago Partners Investment Group LLC now owns 6,482 shares of the company’s stock valued at $512,000 after acquiring an additional 126 shares during the last quarter. Tiemann Investment Advisors LLC lifted its position in SYSCO by 4.1% during the third quarter. Tiemann Investment Advisors LLC now owns 3,213 shares of the company’s stock valued at $255,000 after acquiring an additional 126 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in SYSCO by 1.6% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 7,906 shares of the company’s stock valued at $676,000 after acquiring an additional 127 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its position in SYSCO by 0.5% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 25,552 shares of the company’s stock valued at $2,186,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

A number of research analysts have issued reports on the stock. Piper Jaffray Companies assumed coverage on shares of SYSCO in a report on Thursday, December 12th. They issued an “overweight” rating and a $94.00 price target for the company. BMO Capital Markets decreased their price target on shares of SYSCO from $94.00 to $88.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Co cut shares of SYSCO from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $90.00 to $75.00 in a report on Tuesday, February 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target (down previously from $94.00) on shares of SYSCO in a report on Tuesday, January 14th. Finally, Credit Suisse Group decreased their price target on shares of SYSCO from $89.00 to $84.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.20.

In other news, EVP Greg D. Bertrand sold 47,643 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.00, for a total value of $4,049,655.00. Following the sale, the executive vice president now owns 30,744 shares in the company, valued at $2,613,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Bene sold 39,384 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.00, for a total transaction of $3,347,640.00. Following the completion of the sale, the chief executive officer now owns 132,929 shares in the company, valued at approximately $11,298,965. The disclosure for this sale can be found here. Insiders sold 163,028 shares of company stock worth $13,690,242 in the last quarter. Company insiders own 5.24% of the company’s stock.

NYSE:SYY opened at $78.21 on Friday. The firm has a market capitalization of $39.63 billion, a P/E ratio of 20.95, a PEG ratio of 1.93 and a beta of 0.48. SYSCO Co. has a 1-year low of $65.24 and a 1-year high of $85.98. The company’s fifty day moving average price is $82.21 and its 200-day moving average price is $79.00. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.25 and a quick ratio of 0.74.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $15.11 billion. SYSCO had a net margin of 3.00% and a return on equity of 78.49%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. Equities analysts anticipate that SYSCO Co. will post 3.79 EPS for the current fiscal year.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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