Sentry Investment Management LLC Reduces Position in Cisco Systems, Inc. (CSCO)

Sentry Investment Management LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 308,722 shares of the network equipment provider’s stock after selling 8,011 shares during the period. Cisco Systems accounts for about 0.9% of Sentry Investment Management LLC’s portfolio, making the stock its 17th largest position. Sentry Investment Management LLC’s holdings in Cisco Systems were worth $15,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CSCO. Cadence Bank NA raised its holdings in Cisco Systems by 3.6% during the third quarter. Cadence Bank NA now owns 86,817 shares of the network equipment provider’s stock worth $4,224,000 after buying an additional 2,990 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in Cisco Systems by 679.9% during the third quarter. Gryphon Financial Partners LLC now owns 38,954 shares of the network equipment provider’s stock worth $1,896,000 after buying an additional 33,959 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Cisco Systems by 592.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,267,132 shares of the network equipment provider’s stock worth $61,455,000 after buying an additional 1,084,236 shares during the last quarter. Summit Asset Management LLC acquired a new position in Cisco Systems during the third quarter worth $215,000. Finally, Stevens First Principles Investment Advisors raised its holdings in Cisco Systems by 21.9% during the third quarter. Stevens First Principles Investment Advisors now owns 48,794 shares of the network equipment provider’s stock worth $2,374,000 after buying an additional 8,780 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.

CSCO has been the topic of several research reports. KeyCorp upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a report on Thursday, November 15th. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Nomura downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Friday, December 14th. Finally, Credit Suisse Group upped their price objective on shares of Cisco Systems from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, November 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.05.

Shares of CSCO stock opened at $47.19 on Monday. The stock has a market capitalization of $227.34 billion, a PE ratio of 20.17, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems, Inc. has a one year low of $38.23 and a one year high of $49.47.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Friday, January 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.32 annualized dividend and a yield of 2.80%. Cisco Systems’s payout ratio is currently 56.41%.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $47.44, for a total transaction of $3,320,800.00. Following the completion of the transaction, the chief financial officer now owns 492,301 shares in the company, valued at $23,354,759.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director M Michele Burns sold 4,744 shares of the stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $44.06, for a total transaction of $209,020.64. Following the transaction, the director now owns 74,164 shares of the company’s stock, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,067 shares of company stock valued at $7,804,662. 0.03% of the stock is owned by company insiders.

COPYRIGHT VIOLATION WARNING: “Sentry Investment Management LLC Reduces Position in Cisco Systems, Inc. (CSCO)” was first published by WKRB News and is the sole property of of WKRB News. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.wkrb13.com/2019/02/11/sentry-investment-management-llc-reduces-position-in-cisco-systems-inc-csco.html.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Recommended Story: Price-Sales Ratio

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply