Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 200,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $54.24, for a total value of $10,848,000.00. Following the completion of the transaction, the chief executive officer now directly owns 576,725 shares of the company’s stock, valued at approximately $31,281,564. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sysco Corporation (NYSE SYY) traded down 0.93% during mid-day trading on Friday, hitting $53.37. The company had a trading volume of 2,382,026 shares. The company has a 50 day moving average of $52.31 and a 200 day moving average of $52.57. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The firm has a market capitalization of $28.17 billion, a PE ratio of 25.66 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last issued its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $14.40 billion during 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%. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Analysts predict that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s payout ratio is presently 63.16%.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/23/sysco-corporation-syy-ceo-william-j-delaney-iii-sells-200000-shares-of-stock.html.

Several research analysts have recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Zacks Investment Research lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Pivotal Research set a $53.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.17.

Several hedge funds have recently modified their holdings of the company. Griffin Asset Management Inc. acquired a new position in shares of Sysco Corporation during the second quarter worth $2,912,000. Toronto Dominion Bank increased its position in shares of Sysco Corporation by 24.2% during the second quarter. Toronto Dominion Bank now owns 167,531 shares of the company’s stock worth $8,430,000 after purchasing an additional 32,697 shares in the last quarter. Archford Capital Strategies LLC increased its position in shares of Sysco Corporation by 13,033.9% during the second quarter. Archford Capital Strategies LLC now owns 7,749 shares of the company’s stock worth $947,000 after purchasing an additional 7,690 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Sysco Corporation by 285.5% during the second quarter. Cetera Investment Advisers now owns 16,644 shares of the company’s stock worth $844,000 after purchasing an additional 12,326 shares in the last quarter. Finally, Beaton Management Co. Inc. acquired a new position in shares of Sysco Corporation during the second quarter worth $503,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Sysco Corporation

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.

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

Receive News & Stock Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related stocks with our FREE daily email newsletter.