Sysco Corp. (NYSE:SYY) CFO Joel T. Grade sold 24,128 shares of Sysco Corp. stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $53.49, for a total value of $1,290,606.72. Following the transaction, the chief financial officer now owns 61,563 shares in the company, valued at approximately $3,293,004.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sysco Corp. (NYSE:SYY) traded up 0.34% during mid-day trading on Thursday, reaching $53.31. The company’s stock had a trading volume of 2,208,235 shares. The firm has a market capitalization of $29.16 billion, a PE ratio of 29.49 and a beta of 0.49. The stock’s 50-day moving average is $49.32 and its 200-day moving average is $50.23. Sysco Corp. has a 12 month low of $38.84 and a 12 month high of $54.66.

Sysco Corp. (NYSE:SYY) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the 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 earned $14 billion during the quarter, compared to the consensus estimate of $13.88 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Corp. will post $2.43 EPS for the current year.

Insider Buying and Selling by Quarter for Sysco Corp. (NYSE:SYY)

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This is an increase from Sysco Corp.’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 2.48%. Sysco Corp.’s dividend payout ratio (DPR) is currently 68.13%.

Several equities research analysts have issued reports on SYY shares. Argus raised their target price on Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. raised Sysco Corp. from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, November 8th. Barclays PLC raised Sysco Corp. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $48.00 to $53.00 in a research note on Wednesday, November 9th. They noted that the move was a valuation call. Pivotal Research raised their target price on Sysco Corp. from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Tuesday, November 8th. Finally, Jefferies Group reissued a “hold” rating and set a $50.00 target price on shares of Sysco Corp. in a research note on Friday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.09.

Several hedge funds have recently made changes to their positions in SYY. Kistler Tiffany Companies LLC increased its stake in shares of Sysco Corp. by 0.4% in the third quarter. Kistler Tiffany Companies LLC now owns 2,878 shares of the company’s stock valued at $141,000 after buying an additional 12 shares in the last quarter. Parkside Financial Bank & Trust increased its stake 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 valued at $114,000 after buying an additional 13 shares in the last quarter. Blue Chip Partners Inc. increased its stake in shares of Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock valued at $147,000 after buying an additional 19 shares in the last quarter. Segment Wealth Management LLC increased its stake in shares of Sysco Corp. by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock valued at $247,000 after buying an additional 23 shares in the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of Sysco Corp. by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock valued at $191,000 after buying an additional 34 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

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.

5 Day Chart for NYSE:SYY

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