Sysco Corporation (SYY) CEO William J. Delaney III Sells 200,000 Shares of Stock
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%.
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.
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