Greg D. Bertrand Sells 16,500 Shares of Sysco Corp. (SYY) Stock
Sysco Corp. (NYSE:SYY) SVP Greg D. Bertrand sold 16,500 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $50.79, for a total value of $838,035.00. Following the transaction, the senior vice president now directly owns 57,491 shares in the company, valued at $2,919,967.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Sysco Corp. (NYSE:SYY) opened at 53.22 on Friday. The stock’s 50 day moving average price is $48.89 and its 200-day moving average price is $50.00. Sysco Corp. has a 12 month low of $38.84 and a 12 month high of $54.66. The stock has a market cap of $29.54 billion, a price-to-earnings ratio of 32.45 and a beta of 0.49.
Sysco Corp. (NYSE:SYY) last posted its earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The company earned $14 billion during the quarter, compared to the consensus estimate of $13.88 billion. Sysco Corp. had a net margin of 1.99% and a return on equity of 34.82%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities analysts expect that Sysco Corp. will post $2.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 7th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, October 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.33%. Sysco Corp.’s dividend payout ratio is presently 68.13%.
Several research firms have recently commented on SYY. Bank of America Corp. set a $54.00 price objective on Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Pivotal Research upped their price objective on Sysco Corp. from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Tuesday. Barclays PLC upgraded Sysco Corp. from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $48.00 to $53.00 in a research note on Wednesday. They noted that the move was a valuation call. Argus upped their price objective on Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, BMO Capital Markets set a $56.00 price objective on Sysco Corp. and gave the stock a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of 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 about $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 own 77.36% 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.
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