Sysco Corporation (NYSE:SYY) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,570 shares of the company's stock after buying an additional 7,503 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Sysco were worth $14,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYY. NorthCrest Asset Manangement LLC increased its holdings in Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after purchasing an additional 139 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. MV Capital Management Inc. increased its stake in shares of Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after purchasing an additional 144 shares during the period. Morton Community Bank increased its stake in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after purchasing an additional 145 shares during the period. Finally, Nemes Rush Group LLC increased its stake in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after acquiring an additional 147 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYY. Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of Sysco stock opened at $76.88 on Monday. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The firm's 50-day simple moving average is $73.27 and its 200-day simple moving average is $73.26. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The firm has a market cap of $37.27 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 55.96%.

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.

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