Cadence Bank Purchases 1,084 Shares of Sysco Co. (NYSE:SYY)

Cadence Bank boosted its holdings in Sysco Co. (NYSE:SYY) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,667 shares of the company’s stock after buying an additional 1,084 shares during the period. Cadence Bank’s holdings in Sysco were worth $5,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Buckley Wealth Management LLC raised its stake in Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC raised its position in shares of Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after buying an additional 386 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Sysco in the fourth quarter worth $7,613,000. Boston Trust Walden Corp boosted its position in shares of Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock worth $61,500,000 after acquiring an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC bought a new stake in Sysco in the 4th quarter valued at $3,668,000. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on SYY shares. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 1.4 %

NYSE SYY opened at $71.71 on Friday. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The company’s 50-day moving average price is $72.64 and its 200-day moving average price is $74.60. The stock has a market cap of $35.08 billion, a PE ratio of 18.43, a PEG ratio of 1.88 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Sysco’s dividend payout ratio is currently 52.44%.

Sysco Company Profile

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.