Sysco Corp. (SYY) CEO William J. Delaney III Sells 20,114 Shares
Sysco Corp. (NYSE:SYY) CEO William J. Delaney III sold 20,114 shares of Sysco Corp. stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $49.02, for a total transaction of $985,988.28. Following the completion of the transaction, the chief executive officer now directly owns 422,507 shares of the company’s stock, valued at $20,711,293.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Sysco Corp. (NYSE:SYY) traded up 0.02% during mid-day trading on Tuesday, hitting $48.27. 2,058,844 shares of the company were exchanged. The company has a 50 day moving average of $49.82 and a 200 day moving average of $49.74. Sysco Corp. has a 12-month low of $38.84 and a 12-month high of $53.97. The stock has a market cap of $26.80 billion, a P/E ratio of 29.43 and a beta of 0.52.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The company earned $13.65 billion during the quarter, compared to analysts’ expectations of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, equities research analysts expect that Sysco Corp. will post $2.31 earnings per share 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 paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.57%. Sysco Corp.’s dividend payout ratio is currently 75.15%.
Several analysts recently weighed in on SYY shares. Argus lifted their price objective on shares of Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. Jefferies Group reiterated a “hold” rating and issued a $50.00 price objective on shares of Sysco Corp. in a research report on Friday, September 30th. Bank of America Corp. set a $54.00 price objective on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Vetr upgraded shares of Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 price objective on the stock in a research report on Monday, September 12th. Finally, Deutsche Bank AG started coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They issued a “hold” rating and a $52.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.45.
Several institutional investors have recently modified their holdings of the company. AJO LP boosted its position in shares of Sysco Corp. by 453.7% in the second quarter. AJO LP now owns 4,853,878 shares of the company’s stock valued at $246,286,000 after buying an additional 3,977,304 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Sysco Corp. by 66.6% in the second quarter. Ameriprise Financial Inc. now owns 6,008,805 shares of the company’s stock valued at $304,897,000 after buying an additional 2,402,928 shares in the last quarter. FMR LLC boosted its position in shares of Sysco Corp. by 60.2% in the second quarter. FMR LLC now owns 4,668,368 shares of the company’s stock valued at $236,874,000 after buying an additional 1,754,318 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Sysco Corp. during the second quarter valued at $81,306,000. Finally, Vanguard Group Inc. boosted its position in shares of Sysco Corp. by 3.6% in the second quarter. Vanguard Group Inc. now owns 37,790,301 shares of the company’s stock valued at $1,917,480,000 after buying an additional 1,324,659 shares in the last quarter. 77.24% of the stock is owned by institutional investors.
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.
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