Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.16, for a total transaction of $1,594,800.00. Following the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $21,621,501. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Sysco Corporation (SYY) opened at 53.66 on Friday. The stock has a market cap of $28.33 billion, a PE ratio of 25.80 and a beta of 0.52. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm has a 50-day moving average of $52.22 and a 200 day moving average of $52.56.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a $0.33 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.46%. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.

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Several hedge funds and other institutional investors have recently made changes to their positions in SYY. BlackRock Inc. grew its position in shares of Sysco Corporation by 2,088.2% in the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock valued at $1,672,219,000 after purchasing an additional 30,735,711 shares during the period. Janus Henderson Group PLC grew its position in shares of Sysco Corporation by 9,055.0% in the second quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after purchasing an additional 5,645,259 shares during the period. American Century Companies Inc. grew its position in shares of Sysco Corporation by 47.6% in the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock valued at $254,415,000 after purchasing an additional 1,629,990 shares during the period. Capital World Investors grew its position in shares of Sysco Corporation by 11.7% in the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after purchasing an additional 1,445,000 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Sysco Corporation by 252.7% in the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock valued at $97,041,000 after purchasing an additional 1,381,441 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.

Several brokerages recently weighed in on SYY. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $57.00 target price on shares of Sysco Corporation in a report on Friday, June 23rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a report on Monday, June 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 target price on shares of Sysco Corporation in a report on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sysco Corporation has a consensus rating of “Hold” and a consensus target price of $56.17.

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)

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