Sysco Corp. (SYY) Insider William B. Day Sells 26,507 Shares
Sysco Corp. (NYSE:SYY) insider William B. Day sold 26,507 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $49.00, for a total value of $1,298,843.00. Following the completion of the sale, the insider now owns 132,790 shares of the company’s stock, valued at $6,506,710. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Sysco Corp. (NYSE:SYY) opened at 47.80 on Wednesday. The company’s 50-day moving average is $50.89 and its 200 day moving average is $49.65. Sysco Corp. has a 1-year low of $38.84 and a 1-year high of $53.97. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 29.15 and a beta of 0.52.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. Sysco Corp.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. On average, equities research analysts expect that Sysco Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.58%. Sysco Corp.’s dividend payout ratio is currently 75.15%.
Several analysts recently issued reports on the company. Bank of America Corp. set a $54.00 price target on Sysco Corp. and gave the company a “hold” rating in a report on Saturday, September 17th. Argus increased their price target on Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 19th. Jefferies Group reiterated a “hold” rating and issued a $50.00 price target on shares of Sysco Corp. in a report on Friday, September 30th. Barclays PLC assumed coverage on shares of Sysco Corp. in a research report on Friday, September 23rd. They issued an “underweight” rating and a $48.00 price objective for the company. Finally, Vetr raised shares of Sysco Corp. from a “strong sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $50.45.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AJO LP increased its position in Sysco Corp. by 453.7% in the second quarter. AJO LP now owns 4,853,878 shares of the company’s stock worth $246,286,000 after buying an additional 3,977,304 shares in the last quarter. Ameriprise Financial Inc. increased its position in Sysco Corp. by 66.6% in the second quarter. Ameriprise Financial Inc. now owns 6,008,805 shares of the company’s stock worth $304,897,000 after buying an additional 2,402,928 shares in the last quarter. FMR LLC increased its position in Sysco Corp. by 60.2% in the second quarter. FMR LLC now owns 4,668,368 shares of the company’s stock worth $236,874,000 after buying an additional 1,754,318 shares in the last quarter. Bank of Montreal Can acquired a new position in Sysco Corp. during the second quarter worth $81,306,000. Finally, Vanguard Group Inc. increased its position in Sysco Corp. by 3.6% in the second quarter. Vanguard Group Inc. now owns 37,790,301 shares of the company’s stock worth $1,917,480,000 after buying an additional 1,324,659 shares in the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.
About Sysco Corp.
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
Receive News & Stock Ratings for Sysco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corp. and related stocks with our FREE daily email newsletter.