Crossmark Global Holdings Inc. Sells 4,368 Shares of Sysco Co. (NYSE:SYY)

Crossmark Global Holdings Inc. decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,067 shares of the company’s stock after selling 4,368 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Sysco were worth $14,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco during the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter worth $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

Sysco Stock Performance

Shares of SYY stock opened at $73.02 on Tuesday. The firm has a market capitalization of $35.87 billion, a PE ratio of 18.77, a P/E/G ratio of 2.03 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a 50 day moving average price of $76.72 and a 200-day moving average price of $75.85. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

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.