SYSCO Co. (NYSE:SYY) Shares Sold by Cribstone Capital Management LLC

Cribstone Capital Management LLC lowered its position in shares of SYSCO Co. (NYSE:SYY) by 46.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 586 shares of the company’s stock after selling 513 shares during the quarter. Cribstone Capital Management LLC’s holdings in SYSCO were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its stake in shares of SYSCO by 1,804.9% during the second quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after purchasing an additional 2,451,242 shares in the last quarter. State Street Corp lifted its stake in SYSCO by 6.3% in the third quarter. State Street Corp now owns 26,747,724 shares of the company’s stock valued at $2,123,769,000 after buying an additional 1,590,356 shares during the period. BlackRock Inc. lifted its stake in SYSCO by 3.3% in the second quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after buying an additional 1,004,706 shares during the period. Unigestion Holding SA lifted its stake in SYSCO by 197.1% in the third quarter. Unigestion Holding SA now owns 1,066,357 shares of the company’s stock valued at $84,669,000 after buying an additional 707,466 shares during the period. Finally, California Public Employees Retirement System lifted its stake in SYSCO by 23.8% in the second quarter. California Public Employees Retirement System now owns 3,614,248 shares of the company’s stock valued at $255,600,000 after buying an additional 695,556 shares during the period. Institutional investors own 78.66% of the company’s stock.

Several equities analysts have issued reports on SYY shares. Loop Capital boosted their price target on SYSCO to $86.00 and gave the company a “buy” rating in a research note on Friday, October 25th. ValuEngine downgraded SYSCO from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America upped their price target on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies initiated coverage on SYSCO in a report on Thursday, December 12th. They set an “overweight” rating and a $94.00 price target for the company. Finally, Piper Sandler restated a “neutral” rating and issued a $90.00 price objective (down previously from $94.00) on shares of SYSCO in a research note on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. SYSCO presently has an average rating of “Hold” and an average target price of $79.13.

In other SYSCO news, EVP Greg D. Bertrand sold 900 shares of the stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $85.06, for a total value of $76,554.00. Following the completion of the sale, the executive vice president now owns 31,644 shares in the company, valued at approximately $2,691,638.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas Bene sold 39,384 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.00, for a total value of $3,150,720.00. Following the completion of the sale, the chief executive officer now owns 132,929 shares of the company’s stock, valued at approximately $10,634,320. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,412 shares of company stock worth $18,867,462. 5.24% of the stock is owned by corporate insiders.

Shares of SYSCO stock opened at $83.19 on Thursday. The business’s 50-day moving average price is $83.76 and its 200-day moving average price is $77.69. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 3.74. SYSCO Co. has a 12 month low of $61.33 and a 12 month high of $85.98. The firm has a market capitalization of $42.04 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.20 and a beta of 0.48.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.53 billion. During the same period last year, the company earned $0.91 EPS. SYSCO’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that SYSCO Co. will post 3.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.16%. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 2nd. SYSCO’s dividend payout ratio (DPR) is presently 50.70%.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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