Sysco Corporation (SYY) Director Sells $19,766,150.26 in Stock
Sysco Corporation (NYSE:SYY) Director Trian Fund Management, L.P. sold 372,314 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $53.09, for a total value of $19,766,150.26. Following the completion of the sale, the director now directly owns 5,529 shares in the company, valued at $293,534.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Sysco Corporation (NYSE SYY) opened at 53.66 on Friday. The firm has a 50-day moving average of $52.22 and a 200 day moving average of $52.56. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 25.80 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.
Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts predict that Sysco Corporation will post $2.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.46%. Sysco Corporation’s dividend payout ratio is currently 63.16%.
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Hedge funds have recently modified their holdings of the business. Citizens Financial Group Inc. RI boosted its stake in shares of Sysco Corporation by 1,233.5% during the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock valued at $8,181,000 after purchasing an additional 145,742 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Sysco Corporation by 27.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after purchasing an additional 8,021 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Sysco Corporation by 402.9% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock valued at $5,388,000 after purchasing an additional 83,136 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Sysco Corporation by 2.6% during the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock valued at $12,585,000 after purchasing an additional 6,218 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Sysco Corporation by 29.3% during the second quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock valued at $11,998,000 after purchasing an additional 54,078 shares in the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.
Several analysts recently issued reports on the company. BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. BMO Capital Markets set a $60.00 target price on Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research note on Sunday, August 13th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.17.
Sysco Corporation Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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