Cullen Frost Bankers Inc. has boosted its investment in Sysco Corporation (NYSE: SYY) by 14.3%, acquiring an additional 1,260 shares during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission, Cullen Frost now holds a total of 10,091 shares in Sysco, valued at approximately $764,000.
The investment landscape for Sysco has seen activity from various institutional investors. For instance, Chung Wu Investment Group LLC acquired a new position in Sysco worth about $30,000 in the same quarter. Meanwhile, Golden State Wealth Management LLC significantly increased its stake by 48.4%, bringing its total holdings to 429 shares valued at $32,000. Other notable investments include N.E.W. Advisory Services LLC and Cheviot Value Management LLC, both purchasing new positions valued at approximately $33,000 and $34,000, respectively. Overall, hedge funds and institutional investors control approximately 83.41% of Sysco’s stock.
Current Stock Performance and Financial Metrics
Sysco’s stock opened at $77.30 on Friday, showing a decline of 1.2%. The company has a 50-day simple moving average of $80.53 and a two-hundred-day moving average of $76.78. Financial metrics indicate a debt-to-equity ratio of 6.75, a current ratio of 1.21, and a quick ratio of 0.70. Sysco’s stock has experienced a one-year low of $67.12 and a high of $83.47. The firm’s market capitalization stands at $36.99 billion, with a price-to-earnings (PE) ratio of 20.72 and a price-to-earnings-growth (PEG) ratio of 2.41.
In addition to these metrics, Sysco has declared a quarterly dividend of $0.54 per share, which was paid on October 24, 2023. Shareholders of record as of October 3 received this dividend, resulting in an annualized payout of $2.16 and a dividend yield of 2.8%. The company’s payout ratio is currently at 57.91%.
Insider Transactions and Analyst Ratings
Recent insider trading activity indicates a focus on share management. Ronald L. Phillips, Executive Vice President, sold 961 shares on September 11, 2023, at an average price of $81.00, totaling $77,841.00. Following the sale, Phillips retains 41,501 shares valued at approximately $3,361,581, marking a 2.26% decrease in his ownership. Over the past ninety days, insiders have sold a combined total of 14,732 shares, valued at $1,193,245, with insiders holding 0.56% of the company’s stock.
Analysts have been active in reviewing Sysco’s stock, with multiple research reports issued recently. Wells Fargo & Company set a price target of $88.00 and assigned an “overweight” rating. Similarly, Bank of America raised its target from $81.00 to $93.00, recommending a “buy” rating. Other firms, including Morgan Stanley and Barclays, have established price targets at $88.00 and $82.00, respectively. Overall, ten analysts have issued a “buy” rating, while five have recommended holding the stock, leading to a consensus rating of “Moderate Buy” with a target of $87.00, according to data from MarketBeat.com.
Sysco Corporation, based in the United States, specializes in the marketing and distribution of food and related products across various sectors, including foodservice. The company operates in multiple regions, including Canada, the United Kingdom, and France, ensuring a broad international presence. As investment and analyst interest grows, Sysco continues to be a significant entity in the food distribution market.
