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

Cadence Bank raised its stake in shares of Sysco Co. (NYSE:SYY) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,667 shares of the company’s stock after acquiring an additional 1,084 shares during the quarter. Cadence Bank’s holdings in Sysco were worth $5,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new stake in Sysco during the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco in the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. raised its stake in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after acquiring an additional 321 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of SYY stock opened at $71.71 on Friday. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $35.08 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The business has a 50-day simple moving average of $72.64 and a 200-day simple moving average of $74.60.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm posted $0.89 EPS. On average, equities analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

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

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

About Sysco

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.