Crossmark Global Holdings Inc. Grows Holdings in SYSCO Co. (SYY)
Crossmark Global Holdings Inc. raised its position in shares of SYSCO Co. (NYSE:SYY) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,155 shares of the company’s stock after purchasing an additional 2,958 shares during the period. Crossmark Global Holdings Inc.’s holdings in SYSCO were worth $3,228,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Personal Financial Services raised its position in SYSCO by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after purchasing an additional 1,463 shares in the last quarter. Advisors Asset Management Inc. raised its position in SYSCO by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after purchasing an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in SYSCO by 51.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after purchasing an additional 1,000 shares in the last quarter. Scott & Selber Inc. purchased a new stake in SYSCO during the fourth quarter valued at about $200,000. Finally, Sowell Financial Services LLC purchased a new stake in SYSCO during the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
Shares of SYSCO Co. (SYY) opened at $58.33 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.38 and a debt-to-equity ratio of 3.66. The stock has a market capitalization of $30,390.00, a PE ratio of 26.16, a P/E/G ratio of 2.06 and a beta of 0.56. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $64.27.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.47%. SYSCO’s dividend payout ratio (DPR) is presently 64.57%.
SYY has been the topic of a number of recent research reports. Pivotal Research reaffirmed a “hold” rating and set a $53.00 price objective on shares of SYSCO in a research note on Sunday, November 5th. Loop Capital raised their price objective on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. BMO Capital Markets set a $66.00 price objective on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $65.20.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares in the company, valued at $2,221,150. The disclosure for this sale can be found here. Insiders sold 294,695 shares of company stock worth $16,866,723 over the last three months. 9.60% of the stock is owned by insiders.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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