Crossmark Global Holdings Inc. has acquired more shares of Sysco Co. during the third quarter, as reported in their recent filing with the Securities and Exchange Commission (SEC). They now own 196,435 shares of Sysco after purchasing an additional 64,175 shares, bringing the total value to $15,334,000. Other institutional investors have also made changes to their holdings in Sysco, with Capital World Investors, Ameriprise Financial Inc., Capital Research Global Investors, Diamond Hill Capital Management Inc., and ProShare Advisors LLC all increasing their stakes in the company.
Sysco’s stock saw a 0.7% increase, trading at $77.39 on Friday with a trading volume of 2,237,182 shares. The company’s one-year low is $66.27 and the high is $82.89. Sysco has a market capitalization of $38.02 billion, a price-to-earnings ratio of 19.89, and a beta of 1.20. The company’s financials for the last quarter showed a net margin of 2.44% and a return on equity of 101.04%.
Sysco recently announced a quarterly dividend, with investors receiving a $0.51 dividend on October 25th. The ex-dividend date was October 4th, with an annualized dividend of $2.04 and a yield of 2.64%. The company’s payout ratio is at 52.44%.
Various analysts have provided their insights on Sysco’s stock, with some raising price targets and ratings. Jefferies Financial Group increased the price target to $92.00 with a “buy” rating, while Barclays raised the target to $88.00 with an “overweight” rating. Bank of America, StockNews.com, and Morgan Stanley also shared their recommendations on Sysco’s stock.
In terms of insider transactions, SVP Eve M. Mcfadden sold 4,036 shares of Sysco’s stock on November 1st. The shares were sold at an average price of $75.10, totaling $303,103.60. Following the sale, Mcfadden now holds 48,451 shares of the company’s stock.
Sysco Corporation operates in the foodservice industry, distributing food and related products in various countries. The company has different segments focusing on different markets. Market analysts are keeping an eye on Sysco’s performance and have identified it as a “Moderate Buy” stock with an average price target of $85.77.
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