Sysco Corp. (SYY) Insider Sells $3,817,529.40 in Stock
Sysco Corp. (NYSE:SYY) insider Paul T. Moskowitz sold 74,271 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.40, for a total value of $3,817,529.40. Following the transaction, the insider now directly owns 78,695 shares in the company, valued at approximately $4,044,923. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Sysco Corp. (NYSE:SYY) opened at 53.13 on Monday. Sysco Corp. has a 52 week low of $38.84 and a 52 week high of $54.66. The stock has a market capitalization of $29.49 billion, a PE ratio of 32.40 and a beta of 0.49. The company’s 50 day moving average price is $48.97 and its 200-day moving average price is $50.05.
Sysco Corp. (NYSE:SYY) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. Sysco Corp. had a return on equity of 34.82% and a net margin of 1.99%. The firm had revenue of $14 billion for the quarter, compared to the consensus estimate of $13.88 billion. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts predict that Sysco Corp. will post $2.42 EPS for the current year.
The business also recently disclosed 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 of this dividend was Wednesday, October 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.33%. Sysco Corp.’s payout ratio is 68.13%.
A number of institutional investors have recently made changes to their positions in SYY. Cribstone Capital Management LLC bought a new position in shares of Sysco Corp. during the second quarter worth approximately $102,000. Jolley Asset Management LLC increased its position in shares of Sysco Corp. by 25.4% in the second quarter. Jolley Asset Management LLC now owns 2,150 shares of the company’s stock worth $109,000 after buying an additional 435 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Sysco Corp. by 0.6% in the third quarter. Parkside Financial Bank & Trust now owns 2,324 shares of the company’s stock worth $114,000 after buying an additional 13 shares during the last quarter. Tuttle Tactical Management LLC bought a new position in shares of Sysco Corp. during the second quarter worth approximately $126,000. Finally, Global X Management Co. LLC increased its position in shares of Sysco Corp. by 175.4% in the second quarter. Global X Management Co. LLC now owns 2,542 shares of the company’s stock worth $129,000 after buying an additional 1,619 shares during the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Several equities analysts have recently weighed in on the company. Bank of America Corp. set a $54.00 target price on Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Pivotal Research boosted their target price on Sysco Corp. from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Tuesday, November 8th. Argus boosted their target price on Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. BMO Capital Markets set a $56.00 price objective on Sysco Corp. and gave the company a “hold” rating in a research report on Wednesday, November 9th. Finally, Barclays PLC raised Sysco Corp. from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $48.00 to $53.00 in a research report on Wednesday, November 9th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Sysco Corp. currently has an average rating of “Hold” and a consensus target price of $52.09.
Sysco Corp. Company Profile
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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