Sysco Corporation (SYY) CEO Sells $6,389,892.00 in Stock
Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 118,200 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $54.06, for a total transaction of $6,389,892.00. Following the sale, the chief executive officer now directly owns 494,925 shares in the company, valued at approximately $26,755,645.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Sysco Corporation (SYY) opened at 53.95 on Friday. The firm has a market capitalization of $28.48 billion, a P/E ratio of 25.94 and a beta of 0.52. The firm’s 50-day moving average is $52.31 and its 200-day moving average is $52.57. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, equities analysts expect that Sysco Corporation will post $2.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is currently 63.16%.
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A number of equities research analysts have commented on SYY shares. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a report on Friday, August 4th. J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. BMO Capital Markets reissued a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a report on Tuesday, June 27th. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Pivotal Research set a $53.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $56.17.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sysco Corporation by 1.6% during the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after purchasing an additional 590,968 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sysco Corporation by 0.3% during the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after purchasing an additional 83,464 shares during the last quarter. State Street Corp grew its holdings in shares of Sysco Corporation by 1.0% during the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock worth $1,344,209,000 after purchasing an additional 272,303 shares during the last quarter. Capital World Investors grew its holdings in shares of Sysco Corporation by 11.7% during the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after purchasing an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Sysco Corporation by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock worth $515,484,000 after purchasing an additional 405,191 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
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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