Cullen Frost Bankers Inc. lowered its holdings in SYSCO Co. (NYSE:SYY) by 5.6% in the 1st quarter, HoldingsChannel reports. The fund owned 21,976 shares of the company’s stock after selling 1,300 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in SYSCO were worth $1,318,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in SYSCO during the 1st quarter valued at $129,000. Valeo Financial Advisors LLC grew its holdings in SYSCO by 98.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after purchasing an additional 1,126 shares in the last quarter. Bedel Financial Consulting Inc. acquired a new stake in SYSCO during the 1st quarter valued at $145,000. Centerpoint Advisors LLC acquired a new stake in SYSCO during the 1st quarter valued at $149,000. Finally, Johnson Financial Group Inc. grew its holdings in SYSCO by 77.2% during the 1st quarter. Johnson Financial Group Inc. now owns 3,030 shares of the company’s stock valued at $182,000 after purchasing an additional 1,320 shares in the last quarter. 80.06% of the stock is owned by institutional investors.

Shares of SYSCO opened at $65.03 on Friday, Marketbeat.com reports. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.08 and a beta of 0.55. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 3.76. SYSCO Co. has a 1-year low of $48.85 and a 1-year high of $66.51.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $14.35 billion during the quarter, compared to analyst estimates of $14.32 billion. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. equities analysts forecast that SYSCO Co. will post 2.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, July 5th. SYSCO’s dividend payout ratio is currently 58.06%.

In other news, insider Wayne Shurts sold 15,275 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.85, for a total value of $929,483.75. Following the transaction, the insider now directly owns 39,635 shares in the company, valued at approximately $2,411,789.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $59.80, for a total transaction of $299,000.00. Following the completion of the transaction, the director now owns 90,552 shares in the company, valued at $5,415,009.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,942 shares of company stock valued at $6,670,099. 9.60% of the stock is owned by company insiders.

SYY has been the subject of a number of recent analyst reports. Pivotal Research lowered their price target on shares of SYSCO from $61.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Credit Suisse Group set a $68.00 price target on shares of SYSCO and gave the company a “hold” rating in a report on Saturday, May 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of SYSCO in a report on Tuesday, February 6th. Zacks Investment Research lowered shares of SYSCO from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Finally, Citigroup raised their price target on shares of SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, March 27th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SYSCO has a consensus rating of “Hold” and a consensus target price of $65.64.

SYSCO Company Profile

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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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