Cullen Frost Bankers Inc. grew its position in SYSCO Co. (NYSE:SYY) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,298 shares of the company’s stock after acquiring an additional 616 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in SYSCO were worth $1,453,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its position in SYSCO by 2.5% during the 3rd quarter. Creative Planning now owns 132,406 shares of the company’s stock worth $10,513,000 after acquiring an additional 3,278 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in SYSCO during the 3rd quarter worth approximately $378,000. First National Trust Co lifted its position in SYSCO by 37.2% during the 3rd quarter. First National Trust Co now owns 95,375 shares of the company’s stock worth $7,573,000 after acquiring an additional 25,879 shares in the last quarter. Brightworth lifted its position in SYSCO by 0.4% during the 3rd quarter. Brightworth now owns 77,592 shares of the company’s stock worth $6,161,000 after acquiring an additional 334 shares in the last quarter. Finally, Mackay Shields LLC lifted its position in SYSCO by 61.5% during the 3rd quarter. Mackay Shields LLC now owns 344,796 shares of the company’s stock worth $27,377,000 after acquiring an additional 131,242 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Thomas Bene sold 39,384 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $78.12, for a total value of $3,076,678.08. Following the completion of the sale, the chief executive officer now directly owns 132,929 shares in the company, valued at approximately $10,384,413.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Todd sold 14,706 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $78.99, for a total value of $1,161,626.94. Following the completion of the sale, the senior vice president now owns 30,273 shares of the company’s stock, valued at $2,391,264.27. The disclosure for this sale can be found here. Insiders sold a total of 182,277 shares of company stock valued at $14,357,991 over the last quarter. Company insiders own 5.24% of the company’s stock.
SYY stock traded down $0.51 during midday trading on Friday, hitting $80.39. 531,079 shares of the company’s stock were exchanged, compared to its average volume of 2,325,174. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 3.74. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $81.60. The firm has a 50 day moving average price of $79.10 and a 200-day moving average price of $74.02. The stock has a market capitalization of $41.00 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.24 and a beta of 0.48.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The company had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.53 billion. During the same period in the previous year, the business earned $0.91 EPS. SYSCO’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that SYSCO Co. will post 3.83 EPS for the current fiscal year.
SYY has been the topic of several recent research reports. Bank of America boosted their price target on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Barclays boosted their price target on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. Loop Capital boosted their price target on SYSCO to $86.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Consumer Edge started coverage on SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. SYSCO currently has an average rating of “Hold” and an average price target of $77.40.
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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