Traders Buy SYSCO (SYY) on Weakness Following Insider Selling
Traders purchased shares of SYSCO Co. (NYSE:SYY) on weakness during trading hours on Thursday following insider selling activity. $34.43 million flowed into the stock on the tick-up and $11.72 million flowed out of the stock on the tick-down, for a money net flow of $22.71 million into the stock. Of all companies tracked, SYSCO had the 18th highest net in-flow for the day. SYSCO traded down ($0.13) for the day and closed at $61.22Specifically, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total value of $1,641,300.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $22,251,924.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Insiders sold a total of 321,172 shares of company stock valued at $18,233,905 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research report on Wednesday. Pivotal Research lifted their price target on shares of SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the company a “buy” rating in a report on Friday, December 8th. Finally, Loop Capital lifted their price target on shares of SYSCO to $68.00 and gave the company a “buy” rating in a report on Monday, December 11th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $59.55.
The stock has a market cap of $31,900.00, a price-to-earnings ratio of 27.95, a PEG ratio of 2.64 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.35%. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. SYSCO’s payout ratio is presently 65.75%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in SYSCO by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after acquiring an additional 590,968 shares during the last quarter. BlackRock Inc. grew its holdings in SYSCO by 0.3% during the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after acquiring an additional 83,464 shares during the last quarter. State Street Corp grew its holdings in SYSCO by 1.0% during the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock worth $1,344,209,000 after acquiring an additional 272,303 shares during the last quarter. Capital World Investors grew its holdings in SYSCO by 11.7% during the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after acquiring an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in SYSCO by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after acquiring an additional 208,815 shares during the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2018/01/12/traders-buy-sysco-syy-on-weakness-following-insider-selling.html.
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.
Receive News & Stock Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related stocks with our FREE daily email newsletter.